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Financial Planning Archives | Wealthspire

education planning fafsa

How Savvy Investors Plan for Education Expenses (2020 Update)

By and Guides & Whitepapers
There is a changing reality for many parents: that advanced planning and a long-term strategy for financing a child’s education are becoming more of a necessity than a luxury, even for families of significant means. Education funding is one of the largest expenditures most American families will undertake, and costs continue to grow, far outpacing inflation. Today, average costs for just tuition and fees, not including room and board, exceed $36,880 per year for private schools, and $10,440 for in-state residents (or $26,820 for out-of-state residents) attending public schools. Funding four years of college, or potentially more, requires forethought, and…
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fiduciary advisor

The Importance of Working With a Fiduciary Advisor

By Blog
Deciding to work with a financial advisor can be a stressful decision. It requires sharing intimate financial details with a stranger and implies a deep level of trust that takes time to build. A reasonable assumption would be that the advisor on the other side of the table is required to act in your best interest over their own. In today’s fractured advisor marketplace, however, the simple truth is it is not always so. Here's why you should work with a fiduciary advisor. What is a Fiduciary? A fiduciary is a person (or entity) acting on behalf of another party…
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inherited IRA

What To Do With an Inherited IRA

By Blog
Losing a loved one can bring not only an emotional burden, but also significant financial responsibilities related to settling the estate. If you are a beneficiary to retirement plan assets, you may inherit control of all or part of a retirement plan account. So, what exactly can one do with an inherited Individual Retirement Account (IRA) or a Roth IRA? What responsibilities do you have to the newly inherited account? The answers to these questions may depend on your relationship to the deceased. Here I will discuss several factors that will determine what you can do with inherited retirement assets.…
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military benefits

Integrating Military Benefits into Your Financial Planning

By Blog
As a financial advisor for over three decades and a former U.S. Navy officer with a daughter on active duty and several veterans in the family, a recent conversation I had with a client brought my two worlds together. The client’s son was beginning their military service and had several financial questions about military benefits. This reminded me of the importance of working with an advisor who understands these benefits and can help weave them into a greater financial plan. Whether you are retired military, established in your career as an active duty or reserve member of the military, or…
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