Focus on What You Can Control
At Foster Group, we focus on what we can control and embrace uncertainty. So, when it comes to your financial plan, what are the areas we can help you control?
At Foster Group, we focus on what we can control and embrace uncertainty. So, when it comes to your financial plan, what are the areas we can help you control?
Once the proverbial game clock expires on December 31st, our financial decisions are, for the most part, locked in. There’s no going back. Here are some suggestions to consider for your savings and/or to mitigate the tax bite for 2021.
At the end of 2021, outstanding consumer debt in the United States, including mortgages, student loans, auto loans, credit cards, etc., totaled $15.6 trillion, which equates to about $50,000 per American. Clearly, we are no strangers to debt. Ultimately, getting rid of consumeristic debt will help you save and accomplish your goals.
Because saving money early and often can be difficult, consider how you might help those closest to you to do more of it. Here are some scenarios and ideas.
Legacy is a strange topic. We all think about it, but it means something different to everybody. How do you want to be remembered?
Currently, a single solution to preserve or pass on ownership of digital assets doesn’t exist. This is where it becomes important to think about all of your digital assets and develop a plan for each. Here’s how to go about it.
A few weeks ago, I talked with our two kids – one a preschooler and the other a kindergartner – about money. Here are some starter topics for you to discuss with your kids.
For most of us, it’s that time of the year when we make benefits elections for next year. These are important decisions.
Chances are, you’ve heard about long-term care insurance, but have you asked yourself if you need it?
Stories like this spread and inspire others to be generous.
It is the taxpayer’s responsibility to keep records of distributions made to charity and contributions to their IRA and account for those on their tax return.
One of the significant changes in the tax reform bill signed by Governor Reynolds on March 1, is the eventual elimination of federal tax deductibility for determining taxable income. Iowa was one of the few remaining states that allowed taxpayers to deduct federal taxes to determine their state income taxes.
In late June, the IRS announced RMDs would be able to be reversed from any account requiring them through August 31st. Since the IRS is allowing this, it presents a potential tax planning opportunity.