Posts tagged Tax Planning
Hoping “New Year, New You” Makes Financial Goals Come True?
Hoping “New Year, New You” Makes Financial Goals Come True?

Per Apple’s new ad campaign: Most people quit their New Year's resolutions by the second Friday in January. Well, how are you doing?

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Budgeting, Debt Management, Estate Planning, Investing, Retirement, Retirement Planning, Tax Planning, Your $ Your IndependenceGlenn BrownBudget, Best Practice, CFP, family, Goals, Health, Investing, Kids, Local Town Pages, New Year, New Legislation, Net Worth, Joy, Purge, Portfolios, Savings, Tax Planning, Total Return, tax efficiency, Giving, Investment Management, Experience Spending, Tax Deadlines, taxes, Savings Prioritization, Your Money Your Independence
Holiday Cheer and Roth Conversions: A Gift to Your Future Self
Holiday Cheer and Roth Conversions: A Gift to Your Future Self

At its core, Roth conversion is like wrapping up retirement savings into a tidy, tax-advantaged gift package.

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Budgeting, Debt Management, Investing, Retirement Planning, Tax Planning, Your $ Your IndependenceGlenn BrownBest Practice, Roth IRA, Roth Conversion, Pro-rata rule, IRS, IRAs, Markets, 401(k), Required Minimum Distributions, Tax Planning, Traditional IRA, tax efficiency, taxes, Investing, Taxes, Tax Deadlines, Your Money Your Independence, Recharacterization
Use November to Finalize Year-End Success and Plan for 2025
Use November to Finalize Year-End Success and Plan for 2025

Wait until December, you risk falling into the apathy and distractions common from Thanksgiving to the New Year. Do you want that for your finances?

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Budgeting, Debt Management, Investing, Retirement, Retirement Planning, Tax Planning, Work Benefits, Your $ Your IndependenceGlenn BrownRMD, Goals, taxes, tax efficiency, Tax Cuts and Jobs Act of 2017, Tax Planning, Secure Act 2.0, Retirement, Semi-Retirement, HSA, Year-End, New Year, FSA, Planning for Unexpected, Financial Planning, Roth 401(k), Roth Conversion, Roth IRA, 529 Plan, Gifting, Budget, Best Practice, Focus on your why, family, Giving, Health Plans, HDHP, IRAs, Work Benefits, Local Town Pages, Open Enrollment, Portfolios, Required Minimum Distributions, Raising Kids, Solo K, tax planning, Investment Management, Investing, Tax-Loss Harvesting, Your Money Your Independence
Open Enrollment: Medical Plans & Health Savings Accounts (HSA)
Open Enrollment: Medical Plans & Health Savings Accounts (HSA)

Open enrollment can be perplexing for many is analyzing High Deductible Health Plans (HDHP) and their tax savings counterpart, Health Savings Accounts (HSAs).

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Budgeting, Tax Planning, Work Benefits, Your $ Your IndependenceGlenn BrownBest Practice, family, Focus on your why, Financial Planning, Health Plans, HDHP, HSA, Health Care, Health Insurance, Health, Healthcare, Work Benefits, Medicare, Tax Planning, taxes, Tax Deadlines, Your Money Your Independence, Health Savings Accounts, Medical Expenses, FSA, Open Enrollment, Employee Benefits
Teaching Kids Financial Responsibility: Summer Jobs and Roth IRAs
Teaching Kids Financial Responsibility: Summer Jobs and Roth IRAs

You can open a Roth IRA for your child to evolve their financial knowledge while helping invest for retirement, a first house and/or qualified educational expenses.

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College Planning, Retirement Planning, Your $ Your Independence, Retirement, InvestingGlenn BrownBest Practice, Budget, College, Children, College Planning, College Students, Earnings, Focus on your why, Financial Planning, family, Grads, Goals, Giving, Gifting, IRA Contributions, IRAs, Index, Markets, Kids, Raising Kids, Minors, Roth IRA, Savings, Tax Planning, Traditional IRA, Teenager, Total Return, Investing, diversification, W2, taxes, Tax Deadlines, Your Money Your Independence, Contribution Limits
Thanks, Dad - For Showing How to Lead, Then Trusting to Follow.
Thanks, Dad - For Showing How to Lead, Then Trusting to Follow.

As Father's Day approaches, it's time to pause and express gratitude for these silent architects of our lives.

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PlanDynamic, Your $ Your Independence, Estate Planning, Retirement Planning, Tax Planning, Retirement, Investing, InsuranceGlenn BrownAging Parents, Best Practice, CFP, Children, death, Estate Planning, Focus on your why, family, Financial Planning, Goals, Health, Health Care, Health Insurance, Kids, Home Ownership, Long-Term Care, Local Town Pages, Dad, Portfolios, Multi-Generational Planning, Investment Management, Investing, Savings Prioritization, Savings, Experience Spending, Tax Planning, taxes, Your Money Your Independence
Ready Homebuyers? The Fed’s New “No Urgency” Mantra Is A Gift.
Ready Homebuyers? The Fed’s New “No Urgency” Mantra Is A Gift.

If one waits for 5% mortgages, there are considerable opportunity costs. Potential homebuyers should prepare to act by utilizing these tools and best practices.   

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Budgeting, Debt Management, Economics 101, Your $ Your IndependenceGlenn BrownHouse, Mortgage, Financial Planning, Refinancing, Real Estate, Home Ownership, Best Practice, Debt Management, Focus on your why, Goals, HELOC, Interest Rates, Markets, Loan-To-Value, Prime Rate, Home Equity Line of Credit, adjustable rate mortgage, Rent, Savings, Tax Planning, taxes, Your Money Your Independence, Yields
At or Near Retirement? Time to Say Bucket!
At or Near Retirement? Time to Say Bucket!

Retirees view risks differently, but the greatest risk is behavioral. Let’s discuss a sustainable and tax-efficient approach to retirement distribution strategies.

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Your $ Your Independence, Work Benefits, Retirement Planning, Tax Planning, Retirement, Investing, Debt Management, BudgetingGlenn BrownBudget, Work Benefits, Best Practice, CDs, CFP, Dividends, Dividend Growth, Debt Management, Entitlements, family, Focus on your why, Financial Planning, Goals, Healthcare, Health, HELOC, IRAs, IRS, Income Streams, Investing, Inflation, Investment Management, IRA Withdrawals, Joy, 401(k), Solo K, Local Town Pages, Life Insurance, Medicare, Markets, Net Worth, Roth IRA, Portfolios, Pro-rata rule, Access to Equity, Required Minimum Distributions, Home Equity Line of Credit, Refinancing, Real Estate, Rebalancing, Savings, Traditional IRA, Total Return, Tax Planning, diversification, Savings Prioritization, distribution phase, distribution strategies, tax efficiency, taxes, Experience Spending, Tax-Loss Harvesting, Taxes, Index, Your Money Your Independence, Yields, Asset Allocation
Frugal February… A Different Take, One That’s Sustainable.
Frugal February… A Different Take, One That’s Sustainable.

Many use Frugal February as a month to not spend. While noble, how sustainable is this for improved outcomes Instead, let’s discuss actions that provide yearlong benefits plus a better time to start. 

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Budgeting, College Planning, Debt Management, Insurance, Investing, Retirement, Retirement Planning, Small Business, Tax Planning, Work Benefits, Your $ Your IndependenceGlenn BrownFrugal February, Budget, Savings, Savings Prioritization, Spending, Experience Spending, Planning for Unexpected, Tax Deadlines, taxes, Tax Planning, Tax-Loss Harvesting, Taxes, Home Equity Line of Credit, Credit, Access to Equity, Focus on your why, Retirement, F.I.R.E., Insurance, Auto Insurance, Homeowners Insurance, Credit Cards, Automatic Payments, Subscriptions, Purge, Storage, Feng Shui, Best Practice
If You Fail To Plan, You Are Planning To Fail.
If You Fail To Plan, You Are Planning To Fail.

Starting the New Year with the same old resolutions? Let’s recognize questionable resolutions, including three destined for failure, plus what should be considered for successful planning outcomes. 

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Debt Management, Budgeting, Investing, Retirement, Retirement Planning, Tax Planning, Work Benefits, Your $ Your IndependenceGlenn BrownFinancial Independence, New Year, Resolutions, Planning for Unexpected, Estate Planning, Tax Planning, Retirement, Financial Planning, College planning, Savings, Savings Prioritization, Investing, Debt Management, Student Loans, Student Debt, HELOC, Semi-Retirement, Access to Equity, Best Practice, Budget, Income Streams, Work Benefits, n, Real Estate, Spending
Stop Making Sense: Massachusetts Updates Estate Tax Laws
Stop Making Sense: Massachusetts Updates Estate Tax Laws

Before celebrating a victory for the Commonwealth by echoing legislators that this “doubles the previous threshold”, understand there are only 12 states in the U.S. that still tax estates.

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Your $ Your Independence, Tax Planning, Retirement Planning, Estate PlanningGlenn BrownEstate Planning, Estate Tax, MA Laws, Cliff Effect, Lawmakers, MA Estate Tax, Federal Estate Tax Exemption, Tax Planning, taxes, Taxes, Net Worth
Enjoy Every Sandwicher Moment.
Enjoy Every Sandwicher Moment.

July is National Sandwich Generation Month, celebrating approximately 15% of Americans between ages 40-60 sandwiched between caring for their young children and aging parents at the same time.

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Estate Planning, Debt Management, Retirement Planning, Tax Planning, Your $ Your Independence, BudgetingGlenn BrownSandwichers, Caring for aging parents, Aging Parents, Local Town Pages, Raising Kids, Kids, Elder Care Law, Health Care, Estate Planning, Estate Tax, MA Laws, Health Insurance, Best Practice, Children, family, Focus on your why, Financial Planning, grandchildren, Goals, Long-Term Care, Planning for Unexpected, Multi-Generational Planning, Minors, n, Your Money Your Independence, Tax Planning
Peak Earnings Years Are Your 50’s - Your Parents Maybe, You… Not So Much.
Peak Earnings Years Are Your 50’s - Your Parents Maybe, You… Not So Much.

Top 10% earners in their 30’s and 40’s believe they’ll earn considerably more in their 50’s. Don’t plan on it.

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Budgeting, Investing, Retirement, Retirement Planning, Your $ Your IndependenceGlenn BrownAgeism, Earnings, Income Streams, Employee Benefits, Priorities, Savings, Budget, Savings Prioritization, 401(k), HSA, 529 Plan, IRAs, Roth IRA, Experience Spending, Best Practice, Debt Management, Cash Flows, Focus on your why, Financial Planning, Goals, Investing, Work Benefits, Tax Planning, Your Money Your Independence
New Year, New You… Not True?
New Year, New You… Not True?

Resolutions to improve your financial situation similar to one’s made last year? Here’s how and why to consider actions and timeframes, instead of focusing on desired outcomes.


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Budgeting, Debt Management, Investing, Retirement, Retirement Planning, Tax Planning, Work BenefitsGlenn BrownBudget, Best Practice, Debt Management, Rebalancing, Employee Benefits, Economy, Financial Planning, Focus on your why, family, Semi-Retirement, Retirement, Roth IRA, Student Debt, Goals, Joy, Resolutions, 401(k), Work Benefits, Markets, Local Town Pages, Investing, Portfolios, Priorities, Spending, Savings, Tax Planning, Traditional IRA, Total Return, Your Money Your Independence, Your Money, Year-End, New Year
Perfection is the Enemy of Good, Focus on Executing Improvements.
Perfection is the Enemy of Good, Focus on Executing Improvements.

While 2022 has been a challenging investment environment, it has been a fantastic year to see the benefits of executing financial plans over the past few years. 

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Investing, Retirement, Retirement Planning, Tax Planning, Work Benefits, Your $ Your Independence, Small BusinessGlenn BrownAsset Allocation, Best Practice, Rebalancing, Debt Management, Cash Flows, Capital Gains, Contribution Limits, Employee Benefits, Economy, Entitlements, IRA Contributions, Investing, 401(k), Work Benefits, Local Town Pages, Inflation, Open Enrollment, Pro-rata rule, Priorities, Portfolios, Required Minimum Distributions, Savings, Tax Planning, Traditional IRA, 403(b), 457, Spending, tax planning, Investment Management, Wash Sale, Tax-Loss Harvesting, Tax Deadlines, taxes, Roth IRA, Roth Conversion, Taxes, Your Money Your Independence, Year-End
When Markets Give You Lemons, Make Roth Conversion
When Markets Give You Lemons, Make Roth Conversion

A year-end strategy to consider for turning lemons into lemonade is Roth Conversion.

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Investing, Retirement, Retirement Planning, Your $ Your IndependenceGlenn BrownRoth Conversion, Roth IRA, taxes, Tax Planning, tax planning, IRAs, IRA Withdrawals, Traditional IRA, Required Minimum Distributions, Economy, Financial Planning, Investing, Investment Management, Markets, Local Town Pages, RMD, Tax Deadlines, Taxes, Your Money Your Independence, Recharacterization
Eye Opening Costs At Open Enrollment?
Eye Opening Costs At Open Enrollment?

Over past year, health insurance prices have increased 3X to US inflation. It’s time to fully understand HDHP, HSA and how to do your cost/benefit analysis.


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Insurance, Budgeting, Investing, Retirement Planning, Tax Planning, Your $ Your IndependenceGlenn BrownBest Practice, Work Benefits, Health Insurance, Health Plans, Health Savings Accounts, HSA, Inflation, Investing, HDHP, PPO, taxes, Tax Planning, Taxes, tax planning, Employee Benefits, FSA Dependent Care, Financial Independence, FSA, Financial Planning, Goals, Healthcare, 401(k), Life Insurance, Local Town Pages, Open Enrollment, Priorities, Your Money, Your Money Your Independence, Savings, Year-End
Never ask, “Where do you want to go to college?”
Never ask, “Where do you want to go to college?”

Take control, don’t be another victim to make your teen happy… spending won’t make them happy.

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College Planning, Budgeting, Debt Management, Investing, Your $ Your IndependenceGlenn BrownBudget, Best Practice, Debt Management, College, children, Cash, Children, Tuition, ROI, Refinancing, College Planning, Financial Planning, Financial Aid, FAFSA, EFC, Focus on your why, Financial Independence, Grants, Giving, Goals, Gifting, High School Students, Inflation, Raising Kids, Kids, Local Town Pages, Net Price Calculators, NPC, Investment Management, Investing, Priorities, Student Debt, Savings, Student Loans, Spending, Sandwichers, Social Media, Tax Planning, Teenager, Total Return, Your Money Your Independence, taxes, Expected Family Contribution
Overdue Change Coming To MA Estate Tax Laws.
Overdue Change Coming To MA Estate Tax Laws.

Or Not!

MA House Speaker Ronald Mariano explains how MA legislature failed to pass an economic development plan which included changing outdated estate tax laws that just days before had the support of both the Democratic Senate and House, in addition support from Republican Governor Charlie Baker.

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Estate Planning, Philanthropy, Retirement Planning, Tax Planning, Your $ Your IndependenceGlenn BrownAging Parents, Sandwichers, Best Practice, Beneficiaries, Probate, children, Cash, Local Town Pages, Caring for aging parents, Financial Independence, Financial Planning, MA Laws, Estate Planning, Estate Tax, Death Tax, death, family, grandchildren, Gifting, Inflation, Investing, Joint Property, Multi-Generational Planning, inheritance, House, Priorities, Tax Planning, Your Money Your Independence, Will, Trusts, Trustee, taxes, Taxes, tax planning