Setting up a 529 Plan
It may seem daunting to consider college planning already with a newborn, but higher education is expensive.
As a result of the Tax Cuts and Jobs Act (TCJA) of 2017, many taxpayers may not itemize deductions in the future. Therefore, the benefit of deductions of smaller charitable donations you may have had in the past, could end up being eliminated under the new rules with the doubling of the standard deduction and removal of many other itemized deductions.
Let’s start with the basics of this Bitcoin spectacle because the intricacies of Bitcoin production, valuation, and exchange are very difficult to comprehend.
Nearly a decade ago, our Federal Reserve Board of Governors (the Fed) engaged in an aggressive monetary expansion operation, which we all knew as Quantitative Easing or “QE.” To avert what many saw as the next Depression, the Fed bought trillions of dollars in U.S. Treasuries and mortgage-backed securities from December 2008 to October 2014; thereby lowering long-term interest rates, stabilizing markets, and encouraging lending. The Fed printed vast amounts of money to make these purchases on the secondary market. Within a couple years, the Fed had trillions of dollars in new assets on its balance sheet. Many pundits were alarmed and warned that this would cause rampant inflation.
We typically put a high amount of trust in our doctors for our personal healthcare needs. An M.D. is a certified medical doctor, who has gone through years of intense study in his/her field, adheres to a code of ethics and owes a fiduciary duty to patients. Yet, when it comes to personal finance and people’s life savings, consumers are often either tricked or remiss when it comes to hiring an adviser that adheres to a similar standard of care.
As stock markets climb to all-time highs, many investors with cash on the sidelines have been asking themselves – is now really a good time to invest? Aren’t we at another market peak?
There is no upper limit on the Exepcted Family Contribution. Some very wealthy families will have EFCs that exceed the cost of an expensive private university.