College is expensive; 529 plans can helpĀ
Long before inflation hit the entire economy, it hit college prices. For decades, the cost of higher education has increased faster than prices overall, making it critical for parents to plan ahead if they want to help pay for their childās education. In that time, 529 college savings plans emerged as the best tool available to help parents save. Letās get into why you might want to open a 529, how they work, and how they fit into an overall financial plan.
Planning for RMDs in 2023
At Quorum, we want our clients to understand all of the potential sources of income theyāll have available in retirement. This often opens discussions about required minimum distributions (RMDs) and the role they play in a retireeās income strategy.
Inflation risk: What it is, and why it matters
Even ānormalā inflation (the average inflation rate is around 3% a year) means that your money will buy less over time.
Deferred comp: The amazing benefit no one is using
Deferred compensation is one of the most powerful tax minimization tools legally available. But because itās uncommon, many executives don't know enough about how it works to take full advantage of the offering. This explainer can help ensure you don't miss out.
