Joe Lucey

The New York Times reported in June 2016 that the 37-year-old creator of the hit Broadway musical ‘Hamilton’ was positioned to make more than $6 million that year alone, thanks to his multiple roles (author, actor, rights-holder) in the production.

But it wasn’t always that way. Read more in this article: The creator of Broadway hit ‘Hamilton’ shares the money advice he wishes he’d known in his 20s

The content provided here is designed to provide general information. It is not intended to provide specific advice.  Contact us at info@securedretirements.com or call us at (952) 460­-3260 to schedule a time to discuss your financial situation and the potential role of investments in your financial strategy.

It’s hard enough for students to come up with the money to pay the rising cost of college tuition, but what about room and board? In fact, at some colleges, the amount charged for housing has increased at a faster rate than tuition. This expense offers an opportunity for family members to help out. In some collegiate real estate markets, individuals purchase a small starter home or condominium near campus for a child or grandchild to live in while attending college. Consider the potential advantages:

• The student receives low-cost housing throughout college
• Future siblings and other relatives attending the same college also could benefit
• You can sell the home when the last student graduates for a potential return on investment
• When it’s time to sell, there could be a strong pool of potential buyers with the same idea about the collegiate market
• Individuals looking for long-term rental income likely will find a stable pool of renters
• If it is located in an appealing college town, the property could become an option for downsizing or a second home

 

Be sure to consult with a professional real estate agent or broker to help decide what’s best for your unique situation.

Money doesn’t save itself. It doesn’t invest itself. It requires action upfront. Even if an investor engages in passive money management, he first should decide on his goals, his tolerance for risk, how he wants to invest, where he wants to invest, where the money will come from and if he can save/invest in a disciplined manner to help work toward his financial objectives. That requires a lot of action.

The stock market was already experiencing one of the longest-running bull runs in recent history, but it was given an extra boost when Donald Trump won the election last year. From Election Day on Nov. 8 to April 18, just shy of President Trump’s 90^th day in office, the Dow Jones Industrial Average climbed 12 percent and the S&P 500 experienced a 9.8 percent increase. However, the market experienced some downslides as well, including an eight-day decline in March, its longest losing streak since 2011. Now the question remains for the rest of 2017: How might Americans’ confidence — or lack of confidence — in our commander-in-chief impact activity — and volatility — in the securities markets?

With the Trump Administration just entering its four-year stretch, maintaining a buy-and-hold strategy could be difficult should confidence subside. On the surface, campaign promises that won the election bode well for economic and investment growth. For example, corporate and personal income tax reform could spur more expansion and consumer spending, leading to stronger company earnings. Investments in U.S. infrastructure could produce more jobs and higher wages. A growing economy would generate higher inflation, likely leading to further hikes in interest rates. Higher rates generally correlate with a rising value of the U.S, dollar, creating a tailwind for exports from other developed countries. This in turn could invigorate global markets, providing U.S. investors with more international investment opportunities to help diversify their portfolios.

However, all of those positive benefits are predicated on Washington taking action. The legislature must pass tax reform laws and a budget that features an outsized allocation to infrastructure spending, as well as roll back burdensome regulations that would put the brakes on how quickly these benefits can be realized.

Clearly, active money management isn’t just an investment term. It’s a fundamental component for helping to build wealth at the individual, corporate and government levels.

All investments are subject to risk including the potential loss of principal. No investment strategy can guarantee a profit or protect against loss in periods of declining values.  The content provided here is designed to provide general information on the subjects covered. It is not, however, intended to provide specific legal or tax advice.  Contact us at info@securedretirements.com or call us at (952) 460­-3260 to schedule a time to discuss your financial situation and the potential role of investments in your financial strategy.

With the increase of student loan debt over the past 10 years, more grandparents are taking on the role of college funding. In fact, a Fidelity survey in 2014 found that 72 percent of grandparents feel it’s important to help out in this regard.

Many retirees walk a tightrope between wanting to make gifts to help family members yet still ensure they’ll have enough assets to last throughout retirement — including any unexpected expenses. For those who’d like to contribute toward college expenses, the 529 College Savings plan offers quite a few benefits for grandparents. Here are some of the benefits to consider:

• You can contribute up to $70,000 ($140,000 from a married couple) in one year, per recipient, if you elect to treat the contribution as made over a five-year period for gift-tax purposes.
• Some state plans allow the account owner to claim contributions as a state income tax deduction.
• The account owner retains control of the assets, so the money can be accessed if needed for an emergency. It’s important to note that investment gains would be subject to a 10 percent penalty for withdrawals that are not spent toward qualified education expenses. You also would be subject to income tax on those gains.
• If the intended grandchild doesn’t use the 529 money, the beneficiary can be changed to another relative. You even can use the money for your own qualifying continuing education.
• The 529 isn’t a savings account; the money is invested for growth opportunity.
• The 529 plan makes a good repository for required minimum contributions (RMD) from retirement plans.

The content provided here is designed to provide general information on the subjects covered. It is not, however, intended to provide specific legal or tax advice.  Contact us at info@securedretirements.com or call us at (952) 460­-3260 to schedule a time to discuss your financial situation and the potential role of investments in your financial strategy.

According to a 2016 Retirement Income Strategies and Expectations survey, 70% of millennials are anxious about saving for retirement. So if you’re one of the millennials who gets anxiety every time mom or dad brings up the importance of your retirement funds, take a deep breath.

Read more in the article It’s never too early to start saving for retirement: “50 Things Millennials Can Do Now So They Can Retire at 65.”

Then contact us at info@securedretirements.com or call us at (952) 460­-3260 to schedule a time to discuss your financial situation and the potential role of investments in your financial strategy.