The combined tax reform proposal includes plans to lower tax rates on individuals and businesses and change many deductions. Those hoping for tax simplification, however, may be disappointed. Here’s a thorough but concise summary of the plan.
Learn how the right focus can help
The early optimism that President Trump would be able to reinvigorate domestic economic growth has faded as Congress struggled to pass health care legislation and confusion exists around Trump’s political agenda.
If you are like many busy working people with many responsibilities and stresses, you probably have little time to think about retirement. But as the wise Ben Franklin once said, “If you fail to plan, you are planning to fail.”
College Tuition and Fees constitute one of the biggest threats to our economic outlook. Here is a chart of data from the relevant Consumer Price Index sub-component reaching back to 1978, the earliest year Uncle Sam provides a breakout for College Tuition and Fees. As an interesting sidebar, we've thrown in the increase in the cost of purchasing a new car as well as the more substantial increase for the broader category of medical care, both of which pale in comparison.
Higher education policy changes are on the horizon with the new administration coming in January. A comprehensive college savings plan, such as a 529 plan, is a good way to prepare for changes in student loans and college tuition costs. Proper research maximizes growth opportunities for 529 plans to fund future college expenses. Having a sustainable “savings” budget helps to minimize any overspending during the holidays and keeps long-term financial goals a priority.