Retirement Contribution Limits Introduction Contributions limits for retirement accounts such as 401K, IRA, and Roth IRA have been set at $22,500 for 2023, with catch-up contributions for those over 50 at $6,500. For high-income earners, there are additional...

Setting up your kids for their financial future   As a parent or grandparent, you want to set your children or grandchildren up for success in all aspects of their lives. One way to do this is by planning for their financial future. One option to consider is...

Saving Plans for College Understanding Your Options As the cost of higher education continues to rise, it's more important than ever to start saving for college as early as possible. There are several different ways to save for college, each with its own set of pros...

What is an ILIT   An ILIT, or irrevocable life insurance trust, is a legal entity. ILIT is used to hold a life insurance policy for the benefit of designated beneficiaries. The trust is irrevocable, meaning that it cannot be changed or terminated once it has been...

WILLS, TRUSTS, AND MEDICAID A will alone is not enough. However, a will in a trust is ideal (The Pour Over Will). A document that governs the distribution of assets among beneficiaries and designated heirs after your death is called a will. A legal institution that...

Pros & Cons of Retirement Savings Vehicles   401k, IRA, Roth IRA, and IUL are all retirement savings vehicles that can help individuals save for their golden years. Each of these options has its own set of pros and cons, and it is important to consider these...

THE DIFFERENCE BETWEEN FILING AN LLC AS AN LLC AND FILING AN LLC AS A S-CORP     LLC and S Corporation are not mutually exclusive but different aspects of doing business. S corporations (subchapters/ pass-through tax entities) and Limited liability companies...

Index Universal Life Insurance   When preparing for life events and insuring yourself for worst-case scenarios it’s important to know your options. If you’re smart you have some sort of savings vehicle for your money. You may also have a retirement plan to put aside...

Nine Times You Should Review Your Life Insurance Policy   You have a job, a house, and a family.  You have worked hard to build and put together this life, but have you given thought to what may happen if you suddenly were not around to help sustain those things...

IUL- Index Universal Life Insurance Explained   You have made the smart decision to get life insurance! You want to protect your family in case a tragedy may occur. Your next question may be, what kind of life insurance should I get?  There are a few choices and it...