Vision Capital Management Financial Advisor Portland Oregon
Vision Capital Management has been providing clients financial planning and investment management services since 1999. Visit our site to find out more.
Getting married is the start of something exciting and should be a joyful time. You’ve found the love of your life and it’s safe to assume that thinking through the financial risks of merging assets is an uncomfortable subject between you and your spouse.
At the same time, there are practical matters that you should discuss during your engagement period to prepare for the unexpected. Communication is key to setting yourselves up financially and legally for whatever life sends your way.
Technology continues to alter and evolve the way in which we transact with each other and the world around us. We’ve moved from computers being a luxury in the late 1980s, when less than 1% of the world’s technology-stored information was in digital format, to today, where people can hold a computer in their hands and nearly all information is stored digitally.
Along with the mass adoption of technology, the traditional means of executing and recording financial transactions has shifted significantly and continues to do so. Major financial custodians are changing some of their longstanding client service offerings in order to keep up with the ways in which their clients transact in today’s economy.
It’s no secret that many firms today offer 401(k) retirement plans to their employees, but if your firm is offering a Roth option in its 401(k) plan, it may be worth considering for your retirement savings.
What is a Roth 401(k)?
Like a Traditional 401(k), a Roth 401(k) is a retirement savings plan offered by employers to facilitate their employees saving for retirement. The key difference is that the Roth 401(k) is funded with post‐tax dollars, whereas contributions to a Traditional 401(k) are made prior to paying income tax. The funds in both accounts grow tax‐free, meaning no capital gains tax is owed on the growth of the investments, and the annual contribution limits are the same.
If you live in a high income tax state such as Oregon, California or New York, you’re probably not happy about the Tax Cuts and Jobs Act of 2017 capping your state and local income tax deductions at $10,000. Many people who were taking advantage of these deductions found their tax bill to be higher after the legislation passed. If nothing is tying you to where you currently live, such as a job or family, you may consider moving to a lower tax state.
Congratulations! Your child is not the only one who should celebrate graduating from college; this is a major milestone for you too! You’ve been planning, saving, and working to help support your graduate and now it’s time for the next chapter.
