Rolling Unused 529 Funds into a Roth IRA: What You Need to Know

With the signing of the Secure Act 2.0, savers are now able to convert up to $35,000 in unused 529 funds to a Roth IRA account. Roth IRA accounts have the benefit of growing tax-free and are funded with after-tax dollars. They are the most advantageous investment account available. Providing this as an option to savers with unused 529 funds is certainly a good thing but how can savers make the most of this rule change and is there a real opportunity here?

Rich Person's Roth

The government has its hands in every single one of our pockets and is constantly reaching for more!  We have federal income tax, state income tax, sales tax, property tax, payroll tax, estate tax, excise tax, corporate tax (it just gets passed on to you), Social Security tax, Medicare tax, gas tax, hotel tax, airline tax, and in some places even tax on groceries!  Had enough yet?  We're taxed when we earn, taxed when we spend, taxed when we save, taxed when we invest, and taxed when we die

Looking for the best way to cut down on taxes over your lifetime?

Looking for the best way to cut down on taxes over your lifetime?

Retirement accounts have become one of the greatest tools available for people to build wealth. They are also one of the best tax saving tools in existence. With a little smart planning they can create a gift that keeps on giving. On the other hand, poor planning or no planning at all can reap disastrous consequences. This article will aim to provide you with an overview of the two types of retirement accounts from a tax perspective before getting into key questions to consider in your planning. My hope is that you will gain confidence in your current plan or discover there is an opportunity and take action to improve your financial future.

Turning 65 soon, or know someone who is?

Turning 65 soon, or know someone who is?

Here are some things you need to know about Medicare (and IRMAA) 

For some, turning 65 is celebrated with retirement and some much-anticipated travel.  For others, it’s just another year in the rear-view mirror.  Regardless of which boat you may be in, you’ll want to be intentional about what to do, or not do, about Medicare.