With the cost of college expensive for many, receiving a tax break from the IRS for college-related expenses may be appealing. 529 Plans and Coverdell Education Savings Accounts (ESAs) offer tax-advantaged withdrawals when used for qualified expenses.
LPL Research is pleased to present Outlook 2025: Pragmatic Optimism. Our annual update offers a complete comprehensive analysis of the economic and market environment and highlights potential implications for investors and their portfolios.
When giving gifts to our children or grandchildren, we often default to the latest toys or gadgets. However, the value of these items tends to diminish over time in terms of both interest to the child and monetary value. A different approach to gifting can focus on investing in a child's future. This perspective offers more than instant gratification; it provides lasting benefits that may help provide an independent future for your loved ones.
As the year comes to a close, there are some important deadlines that you shouldn’t ignore. These deadlines affect your taxes, savings, and, perhaps, your financial future. Here’s a simple guide to help you stay on track before this year’s clock runs out.
Losing a child is an unimaginable tragedy. In the midst of such profound grief, dealing with financial matters can feel overwhelming. Yet, there are practical considerations that need to be addressed. This guide offers support and information to help you navigate these difficult tasks during this heartbreaking time.
The story of Nelson Mandela is one of both tragedy and inspiration. Growing up, Mandela was told stories by the elders in his village of Mvezo, in the Eastern Cape of South Africa, of the heroism and courage demonstrated by his ancestors as Africans fought battles in the struggle against racism and resistance.
The concept of a debt ceiling has been a topic of significant discussion in the realm of economic policy, particularly in relation to government spending. However, the idea of imposing a debt ceiling can also be applied to personal finance. Families can benefit from adopting their own debt ceiling as a vital tool in creating a sound financial plan. Let’s explore the notion of a debt ceiling, its importance, and how families can leverage it to work towards financial confidence and stability.
We often discuss with our clients the idea of financial “headwinds” and “tailwinds.” Tailwinds being the financial factors that are positively pushing them closer towards their goals, while headwinds being the factors that are slowing them down on the same journey. Taking on certain debt without purpose or plan can easily become the largest financial headwind in your life. It can quickly result in constantly taking 1 step forward and 2 steps back for many years into the future.
Just like a seasoned adventurer carries a trusty map and compass, you need a solid financial toolkit to navigate life's unexpected detours. Here are the essentials:
Investing is an essential tool for building wealth and independence. For some, investing may seem confusing or frustrating due to the perceived risk and complex products. While investing may initially seem intimidating, it's vital to building wealth over time.
Going through a divorce can be an emotionally charged and stressful event. Aside from the emotional toll, there's often the challenging task of disentangling finances and assets, a process that frequently leaves many divorcees in a precarious financial situation. However, it is essential to remember that this is not the end of the road—with a comprehensive strategy, you can rebuild your finances post-divorce. Here is a guide for divorcees seeking a fresh start for their finances.
Interest rates are like the tides of the financial world, always ebbing and flowing. When interest rates fall, it creates a unique set of opportunities and challenges for your financial strategy. Here’s what you need to know to make the most of this environment:
In 2024, the landscape of financial independence is more daunting than ever, recalling the pervasive insecurity of the global financial crisis. Today, concerns that began with housing affordability among millennials have expanded, affecting Americans of all generations.
For HENRYs — High Earners [who are] Not Rich Yet — your high salary often comes at the expense of hefty student loans or other types of debt. Tackling this debt now can allow you to put your salary to its highest and best use. But where should you begin?
In times of economic upheaval, the natural reaction for many investors is to react with fear and anxiety. Market volatility can unsettle the most seasoned of investors, but with strategic planning and a calm approach, it's possible to emerge in a stronger position. Whether it's a downturn in the stock market, fluctuating interest rates, or broader economic uncertainty, several of our wealth-planning strategies can help you navigate these turbulent periods. Here are five tactics to consider:
America’s Founding Fathers created the foundation of a nation like no other. Each had goals and dreams, many with high expectations of what the United States of America could become. For today’s citizens, it may be possible to look back on these men and the financial insights they used as guides for inspiration. Here are some of their insights.
Estate planning is a comprehensive process that involves organizing your assets and making informed decisions concerning how your wealth will be handled before and after death. It is a critical phase of wealth management, essential for anyone seeking to manage their assets and efficiently pass them to heirs. In this article, we examine the crucial components of an estate plan, how to begin, who can help you develop an estate plan, mistakes to avoid, and how to mitigate them.
Whether you make tennis one of your leisure activities during retirement or just enjoy watching the sport, you may not realize that the same strategies used in a tennis match may also translate into retirement. Prepare yourself for peak performance during the game of retirement by trying some of these retirement tips.