A Grandparent’s Guide to 529 Plans

A four-year college education is expensive. Based on research by the College Board*, the published average annual cost of tuition and tuition fees for 2019-2020 at a four-year private college was $36,880. Tuition fees for in-state students at a four-year public school were on average $10,440 per year. Room and board are another charge. And… Continue reading

FAQs about RMDs

If you are age 72 or older, the Internal Revenue Service (IRS) may require that you withdraw a minimum amount from your retirement account(s) every year. This is called a required minimum distribution (RMD). Note: If you turned age 70 ½ prior to January 1, 2020, your RMDs are based on age 70 ½, not… Continue reading

Playing the Role of Caregiver and Money Manager

If you serve as a caregiver for a loved one, you likely have several responsibilities — nurse, cook and housekeeper, to name a few. But your loved one might also need assistance in managing their finances. If you find yourself in this position, your loved one may want to consider granting you “power of attorney”… Continue reading

How Your Personality Affects Your Investments

What words come to mind when you think about your personality traits? Impulsive? Confident? Organized? Now think about how you make investing decisions. Would the same words apply? Certain psychological traits can influence your investment decisions — often at the expense of logic. The result could be investment returns that don’t match your expectations. Consider… Continue reading

Weathering the Storm

Investment markets, like Michigan’s weather, can have beautiful days and downright dreary days. While we all hope for mild temperatures and sunny skies, the clouds will eventually roll in. But with proper planning and an eye on your long-term goals, you can position your portfolio to weather various market conditions. Know What You Can Control… Continue reading

What’s Your Risk Tolerance?

Risk tolerance is the amount of risk you’re willing to take with your investments. As a general rule, younger investors have more time to keep their money invested and can accept more risk than older investors who will need to access their money sooner, such as in a few months or years. Market volatility is… Continue reading

Riding the Investment Roller Coaster

Buckle Up Investing is comparable to a roller coaster ride. It’s filled with ups and downs and can appear overwhelming at times. There will be moments of thrill and moments of fear. Your decisions during the process will impact your financial wellness and retirement readiness. Wherever you’re at in the ride, there are important considerations… Continue reading