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

Giving Retirement a Boost with Unused 529 Plan Funds

With the ever-increasing costs of higher education, state-sponsored 529 plans have quickly become a popular vehicle for saving and investing for these expenses. However, a drawback of these tax-advantaged plans has been what to do with leftover funds should the beneficiary not need them. In this month’s blog post, we will discuss what options are available to those with an unused 529 plan funds, including insight into the exciting new option introduced with the passage of the SECURE 2.0 Act in 2022.

unused 529 funds

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Back-Door Roth vs. Roth Conversion

First available in 1998, Roth retirement accounts have quickly become a popular way to save for retirement by allowing participants’ after-tax contributions to grow tax-free and, unlike traditional IRA accounts, not be subject to taxes upon withdrawal. As their popularity increased, employer-sponsored 401(k) plans with a Roth option quickly followed, becoming available for employers to offer to their employees in 2006. According to CNBC, the number of employers offering a 401(k) with a Roth option has nearly doubled to 88% in the past decade.

Roth IRA

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Understanding the Secure Act 2.0

Secure Act 2.0

In 2023, the SECURE Act 2.0 for retirement savings becomes federal law, reshaping tax incentives for years to come by making numerous changes to existing retirement account rules and related tax breaks. Though there are many changes, below are some of the ones that will impact high wage earners, those still working, and those who have or are about to retire.

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Should You Rent or Buy?

We’ve all heard the sentiment that you may as well be throwing money away if you’re renting a home, but is that really the case? The answer is that it depends on your specific situation: your needs, finances, and future plans! Home ownership can be beneficial under the right circumstances, but it’s not all sunshine and white-picket fences and while renting may be convenient, you are at the whim of a landlord. There are upsides and downsides to both options and you may find one appealing over the other at different stages in life. We’ll help you explore the factors to consider before deciding whether to rent or buy! Rent or Buy [Read more…]

How to Approach Retirement Savings at Different Ages

It’s no secret that the earlier you’re able to start saving for retirement, the better. Since private company pensions have virtually gone extinct and Social Security benefits are intended to only cover a portion of your working wages, the brunt of saving for retirement falls on your shoulders. With this in mind, you may wonder how much you should be saving as you progress through your career and how your current savings compare to others in your age range. Fortunately plenty of research has been conducted on these topics to help us all find clarity in the great feat that is saving for our later years!

retirement savingsWe focus the discussion below on median retirement savings because it gives a more accurate representation as averages can be skewed by outliers: those with very low retirement savings or those with extremely high savings. [Read more…]

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Private Wealth Advisor
Certified Financial Planner
CFA Institute
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