Washington DC residents have long been underserved and underrepresented. While we don’t have any updates on representation, we do have good news about college saving options for DC residents, and associated tax benefits.
Washington DC’s College 529 Plan recently introduced changes to add stronger investment choices and reduce fees.
This is a great saving recipe if you’re a DC resident saving for college and seeking to gain DC income tax deductions too.
Jennifer Myers, CFP ® established SageVest Wealth Management in May 2007, to provide high quality, customized, and comprehensive investment management and financial planning services to individuals, families and business owners in the Washington, DC area and beyond.
A decade later, and with twenty years of experience, Jennifer’s the recipient of multiple top advisor awards, including Washingtonian Top Financial Advisor, and SageVest is celebrating our tenth anniversary! This seems an ideal time to thank our clients, and to offer a quick reminder of our services, our fields of expertise, and the core principles that guide us in pursuit of your financial and life goals. Read More
Congratulations if your child, grandchild, or other family member is about to graduate from college! Attaining a degree is an accomplishment worthy of celebration. It’s also a time for your grad to transition into independence, learning financial and life responsibilities to achieve future success.
If you’re searching for a meaningful graduation gift to encourage lifelong wealth, SageVest advisors offer ten of our favorite financial gifts for college graduates.
Money management skills lay the foundation for lifelong success, and the path to financial wisdom begins in childhood. In recognition of Financial Literacy month in April, we’re proud to announce the launch of SageVestKids, a website dedicated to helping you raise happy, financially wise children through developmentally appropriate activities and responsibilities.
Our new site has already been recognized by CNBC, Investment News, and Yahoo Finance as a rich resource for financial literacy, and we encourage you, your family, friends and others to visit SageVestKids for more information. Below are some of our top tips in brief to help you guide your kids towards financially rewarding lives. Read More
SageVest is committed to providing you with timely and appropriate information and updates that encourage smarter financial planning decisions and help translate your wealth potential into real life solutions of benefit to you and your loved ones.
To that end, we wanted to let you know about upcoming changes to the Free Application for Federal Student Aid (FAFSA) application process that may be of interest to you or those you know.
Helping your teen embark on their college experience entails a host of decisions more important than which mini fridge to purchase or what color shower caddy to choose. For parents, one of the primary decisions is how to fund the tuition bills.
Hopefully you’ve been diligent in preparing for the costs of college. There are several types of accounts you might have contributed to over the years in order to accumulate college savings. If you have balances in both custodial accounts (UGMA and UTMA) and Section 529 Plans, which should you draw upon first to begin funding your child’s higher education? Read More
As a young adult, it’s important to learn the best strategies and habits to manage your finances, both now and in the future. The earlier you understand and utilize these practices, the better. But where should you begin?
Like any journey, the road to financial success needs a destination. The first step is to define financial goals that support your personal ambitions and life objectives. These decisions will form the foundation of your broader financial plans.
Across the nation, parents are bidding a tearful goodbye as their excited teenagers head to college for the first time … or bidding on that home fitness center on eBay, as they turn their son or daughter’s room into an in-home gym before the car’s even left the driveway.
We can’t help with the emotional aspects, or with putting the workout equipment together. But when it comes to nurturing financial skills and wisdom, SageVest and SageVest Kids are valuable resources for you and your family. Following are a number of points we recommend discussing with your teenager, or in collaboration with one of our advisors, with a goal of launching your young adult on the road to life success as well as the road to college. Read More
As the cost of a college education continues to climb, many grandparents are stepping in to help. This trend is expected to accelerate as baby boomers, many of whom went to college, become grandparents and start gifting what’s predicted to be trillions of dollars over the coming decades.
Helping to pay for a grandchild’s college education can bring great personal satisfaction and is a smart way for grandparents to pass on wealth without having to pay gift and estate taxes.
So what are some ways to accomplish this goal? Read More
Many students take a job in the summer after school lets out. If it’s your first job it gives you a chance to learn about the working world. That includes taxes we pay to support the place where we live, our state and our nation. Here are eight things that students who take a summer job should know about taxes.
This information regarding tax tips for students who take a summer job was recently released by the IRS. Please feel free to pass it on to anyone who may benefit from this useful advice. Please visit www.IRS.gov for more about tax rules for students, or click on the links below. Read More
Every October, the College Board releases its Trends in College Pricing report, highlighting college cost increases for the current academic year, and trends in the world of higher education. While costs can vary significantly depending on the region and individual college, the College Board publishes average cost figures, based on its survey of nearly 4,000 colleges across the country.
In addition, Social Security and Medicare figures are announced for calendar year 2014. Read More
When your child first started school, you doled out the change for milk and a snack on a daily basis.But now that your kindergartner has grown up, it’s time for you to make sure that your child has enough financial knowledge to manage money independently.
Perhaps your child already understands the basics of budgeting from having to handle an allowance or wages from a part-time job during high school. But as your child prepares to leave for college, he or she may need to draft a “real world” budget, especially if he or she lives off-campus and is responsible for paying for rent and utilities. Read More
Many parents pay for college with a combination of savings and financial aid. Financial aid is money distributed primarily by the Federal government and colleges in the form of student loans, grants, scholarships, and work-study jobs. Loans and work-study must be repaid (through monetary or work obligations), while grants and scholarships do not. A student can receive both Federal and college aid. By learning the basics, you’ll be able to understand how the financial aid process works, properly fill out aid applications, and compare the aid awards your child receives. Read More
Being able to send your child to college is near the top of the wish list for most parents. A college education can open doors to many opportunities, and is increasingly necessary in today’s economy.
But that diploma doesn’t come cheap!
Start saving as early as possible. Ideally, you’ll want to choose a college savings vehicle that offers the best combination of tax advantages, financial aid benefits, and flexibility, while meeting your overall investment needs. Read More