Should You Give Your Power of Attorney to an Adult Child?
Regular readers know how important we at Rigby Financial Group consider your wills and powers of attorney (POAs), both durable, to cover your financial affairs, and medical, to cover healthcare decisions. And that powers of attorney are, in the normal course of events, given to a spouse, if the individual in question is married. This […]
529 Plans: Drawing Down Excess Funds
So, your eldest child has graduated from college – congratulations to your family! However, you have two more children – one will be applying for college next year, and the youngest will be two years after that. Happily, you began saving for their educations with contributions to a 529 Plan account for each of them. […]
Thinking of Working After Retirement? Call Us First!
During the first years of the COVID-19 pandemic (are we still in a “pandemic?” I’m never sure on that, though certainly COVID is still a presence), many people on the verge of retirement made that decision and did indeed retire. However, a significant number of those individuals appear to have regretted their decision, and retirees […]
Why Hire a Virtual CFO? Because It Pays!
Virtually all large corporations, and many mid-sized enterprises as well, know the value of their dedicated Chief Financial Officers (CFOs). And if they don’t, they ought to! New research (published in October 2024) by OneStream as part of their Finance 2035 initiative, shows that investors consider a CFO’s skills, acumen, and performance even more important […]
It’s 2025 – Why Are We Still Multi-Tasking?
I was looking up something else entirely when I came across an old Forbes article about multitasking and how it can damage one’s brain. The article was published in 2014; it references a study from Stanford University that attempted to discern what made multitaskers good at what they do. What the researchers came up with […]
Choices—Is a Traditional 401(k) or a Roth 401(k) the Best Fit for You?
When it comes to retirement planning, no amount of care can be called too much. And, speaking of “much,” most of us have a number of options on the retirement plans we have available as vehicles for saving. If your employer offers this, one of these options may be a Roth 401(k). Roth 401(k)s were […]
The Spousal IRA – is it Right For Your Family?
If you are married, and your spouse is a homemaker, you might think only you can make contributions toward retirement via eligible retirement accounts and plans. But that isn’t the case! A spousal IRA can allow both partners to save toward their retirement years on a single income. What is a Spousal IRA? “Spousal IRA” […]
On the Chopping Block – Tax Breaks Under Fire in Congress
President Trump campaigned on a good many issues – but taxes were high on the list. He proposed no income tax on Social Security, overtime pay, or tips. The tax cuts enacted in the 2017 Tax Cuts and Jobs Act (TCJA) would be made permanent or at least extended. Costly proposals, all of them! And […]
Acting Out of Anger is Running Your Motor on Bad Fuel
Seneca wrote, “There is no more stupefying thing than anger, nothing more bent on its own strength. If successful, none more arrogant, if foiled, none more insane—since it’s not driven back by weariness even in defeat, when fortune removes its adversary, it turns its teeth on itself.” As a person of Irish descent, I know […]
SECURE 2.0: Changes to Retirement Plans for 2025 – IRS Postpones Effective Date on Some Until 2026
The SECURE 2.0 Act, signed into law on December 29, 2022, built on the foundational changes to retirement plans enacted in the Setting Every Community Up for Retirement Enhancement Act (SECURE) in December of 2019, made a few significant changes to the rules governing the administration of and contributions to retirement plans. Initially planned to […]