Coastal Community Private Wealth Group’s Post

🎓 Exciting News for College Savings! 🎓 Starting in 2024, the SECURE Act 2.0 will allow you to roll over unused 529 plan savings into a Roth IRA for the same beneficiary under certain conditions. This new option adds flexibility to your college savings strategy, helping you make the most of your investment. Remember, funds from a 529 plan used for non-educational expenses are still subject to taxes and penalties. Let's make sure your savings work hard for your family’s future. Reach out to learn more! #CollegeSavingsMonth #FinancialPlanning

Planning for College Finances? Check out the latest issue of Stroll Daniel Island for expert advice from Stephanie Mackara of Charleston Investment Advisors! In this article, Stephanie breaks down smart financial strategies to help you and your family navigate the costs of higher education. From savings plans to scholarships and budgeting tips, she’s got you covered! We love having great resources like Stephanie to help us! 🎓 💸 📚 #CollegePlanning #FinancialTips #StrollDanielIsland #CharlestonInvestmentAdvisors #InvestSmart #CollegeFinances #strolldanielisland #dilife #lovewhereyoulive #lowcountryliving #danielisland #danielislandsc

Futureproofing your wealth – the importance of estate planning Passing on wealth to future generations is one of the most rewarding things you can do with your hard-earned money. The assets you pass on could help your children or grandchildren buy homes, get great educations, or set up their own business. So, ring-fencing as much as you can in order to mitigate the amount of Inheritance Tax or IHT you will need to pay is an important part of estate planning – and future financial wellbeing. Head to our website for more information: https://lnkd.in/ds9DKgu5 The value of investments with St. James's Place will be directly linked to the performance of selected funds and these can fall as well as rise. You may get back less than the amount initially invested. #FutureProofing #LeavingALegacy

Planning for your child's education? TFSAs are a fantastic option! Start saving early and enjoy tax-free growth on your contributions. This can significantly reduce the financial burden of higher education for your child. Give your child the gift of a bright future. Start a TFSA today! #educationplanning #financiallysecurefuture #taxfreebenefits https://bit.ly/4cfmiY7

You’ve probably heard the often-repeated advice to budget your money. But, how can you do that? Thankfully, there are a number of tried and true strategies that may help you focus on your funds. For example, some use basic math, like the 50/20/30 plan. This type of budget advises you spend 50% of what you earn on your needs, with 20% going to savings, and 30% going to wants. Learn other ways you can think about your budget here: https://lnkd.in/gXxAG9QH #astraiosfinancial #financialadvisor #retirementplanning #wisconsin #illinois

Financial planning, savings, investing, and managing a budget — these factors all play a crucial role in the concept of "Financial Literacy". Recently I had a thought-provoking discussion with John Aguilar from World Financial Group (WFG) on the critical topic of financial literacy. We delved into the concerning reality of the disparity in financial literacy among different socioeconomic classes in Canada. It was alarming to see how access to financial education is not equitable, resulting in a cycle where wealth predominantly circulates among the affluent. It was even more sobering to learn about the consequences of financial illiteracy, especially in light of today's economic challenges. As inflation rises and reliance on pensions becomes increasingly insufficient, the importance of prudent financial planning cannot be overstated. Planning ahead and making informed financial decisions are more crucial than ever. Nevertheless, John's determination for promoting fair wealth distribution were particularly enlightening, underscoring the potential for empowering individuals with the tools they need to achieve financial security. I was genuinely delighted to see how our long-term goals aligned, and also inspired by his commitment to increasing awareness in the society about the subject matter. I wish to see him shine and succeed in his endeavors, and he has my full support for a better and brighter future for the community. Let's continue to advocate for accessible financial education and empower individuals to take control of their financial futures! #FinancialLiteracy #Empowerment #InclusiveWealth

We all want a good start in life for the children in our family. After providing for the immediate needs of younger children, thoughts turn towards the future and consideration of longer-term goals. You may want to consider investing for your child’s future to potentially build something significant which they can call on in later life. It sounds simple, but such thoughts also bring with them a number of questions: • What are you saving for? • How much flexibility do you need? • Which investments are appropriate? • How much control do you want over when they can access the money? • How can any tax be minimised? The first step is to decide the investment goal or goals and the timeframe. Do you want to help a child or grandchild onto the property ladder, support them through higher education, help with a major expense, such as a wedding, or even start a pension pot for them? Perhaps a Junior ISA (JISA) may be a suitable option. To make plans to secure the financial security of the children in your family, please get in touch, we can explore the specific options for your circumstances. 🔗 https://lnkd.in/dpVRtxC *Content is for informational purposes only. You may not get back the original amount invested. #FinancialFuture #Children #FinancialPlanning

📰 In this month’s edition of Focus, Barbara Zvan president and CEO of University Pension Plan Ontario, explores what needs to be done to put sustainable finance into action. 🔗 Read more: https://lnkd.in/eFgmgHb7

529 plans aren’t just for college savings anymore. Learn how this powerful tool can help you save for tax-advantaged investing, education, estate planning and more.

529 plans aren’t just for college savings anymore. Learn how this powerful tool can help you save for tax-advantaged investing, education, estate planning and more.