For moderately wealthy individuals, securing financial aid for their children’s college education might seem like a distant possibility. However, with the skyrocketing costs of higher education, even wealthy families are looking to optimize financial aid opportunities. The key lies in understanding how assets are assessed in financial aid calculations and strategically positioning those assets to…
When it comes to tax efficiency and long-term wealth building, the Mega Backdoor Roth IRA is a strategy that stands out as a powerful tool, often underutilized by many high-income earners. While 529 plans are commonly touted for their tax advantages when saving for education, Mega Backdoor Roth IRAs offer a level of flexibility and…
When it comes to planning for the future, understanding how to maximize tax efficiency in retirement accounts is crucial. This guide delves into the nuances of various retirement accounts, with a special focus on 529 plans, outlining strategies to help you save more effectively while minimizing your tax burden. What is a 529 Plan? A…