Kickstart Your College Fund with a 529 Plan

If you're looking to save money for college, one option to consider is a 529 college savings plan. Created over 20 years ago and named after the section of the tax code that governs them, 529 plans offer a unique combination of features that have made them the 401(k)s of the college savings world.

Changing Jobs? Know Your 401(k) Options

If you've lost your job, or are changing jobs, you may be wondering what to do with your 401(k) plan account. It's important to understand your options.

The Markets (as of market close July 14, 2017)

Both the Dow and S&P 500 reached record highs last week, and each of the indexes listed here posted gains. While the large-cap indexes reached new highs, the tech-heavy Nasdaq had the best week, climbing over 2.50% by last week's end, followed by the Global Dow, which gained a little over 2.0%.

Important Ages in Retirement Planning

Age 50

Catch-up contributions for most retirement plans and IRAs can be made beginning in the year you are going to turn age 50. The only plan that does not allow catch-up contributions is the SEP IRA. The following are the catch-up limit amounts.

IRA/Roth IRA  $1,000

Test Your Investing IQ

How much do you know about market basics? Put your investing IQ to the test with this quiz on stocks, bonds, and mutual funds.

Questions

1. What does it mean to buy stock in a company?

a. The investor loans money to the company

b. The investor becomes a part owner of the company

Quiz Yourself with These IRA Questions!

After you’ve answered the questions below, scroll down to see the answers and see how well you know your stuff!

1) Of Roth IRAs, Roth 401(k)s and inherited Roth IRAs, which, if any, are subject to required minimum distributions?

4 Common Financial Terms - You Probably Should Know

If you’re just starting to take charge of your financial future, it can be stressful approaching financial planning with confidence. Do you ever talk to your bank or financial manager and think that they’re speaking a foreign language?

The Markets (as of market close July 7, 2017)

Stocks ended last week higher, despite falling energy shares. The Dow and S&P 500 rose last Friday on the heels of June's strong labor report. Of the indexes listed here, the Dow led the way followed by the Nasdaq and the Global Dow.

Madison Planning staff partakes in Charity Softball Tournament

For the second straight year, some of the Madison Planning staff played in the Stephanie Crispinelli Humanitarian Fund Charity Softball tournament in Somers, New York.

The Markets (as of market close June 30, 2017)

The second quarter proved to be a bit bumpy for equities, but each of the benchmarks listed here closed the quarter ahead of their first-quarter closing values. April saw equities close the month ahead of March, buoyed by favorable corporate earnings reports, proposed tax cuts, and strong foreign economic advances.