When Can You Use a Section 529 Plan?

Franz Koch
5 Feb 2019
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Merrill Lynch Wealth Management explains the uses of and limits to this popular education savings tool.   Millions of Americans use 529 plans to sock away money for their kids’ and grandkids’ education. They are popular, in part, because of the tax benefits they can provide: withdrawals, including any earnings, are federal, and possibly state, income tax free when they are used for qualified education expenses. Previously only applicable to college-related expenses, effective January 1, 2018, 529 plan holders can also use up to $10,000 per calendar year per beneficiary to help pay for tuition at an elementary or secondary […]

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Retirement Income That Measures Up

Franz Koch
10 Jan 2019
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Merrill Lynch Wealth Management suggests strategies to help you meet your retirement needs. Pension income, investments, a 401(k) account: All those potential resources can provide you with a solid foundation for retirement. But how do you develop a strategy for drawing them down in a way that will see you through retirement? “Your approach will depend on your age and lifestyle, as well as all of your anticipated—and unanticipated—expenses,” says Lorna Sabbia, head of Retirement & Personal Wealth Solutions at Bank of America Merrill Lynch. “A conversation with your financial advisor can help clarify the strategy that might work best […]

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Money Sense-Save More for Retirement With These 5 Tips

Franz Koch
27 Dec 2018
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Even if you are juggling other financial goals, here are some steps from Merrill Lynch Wealth Management to help you get back on track. YOU ARE BUSY WITH YOUR CAREER, maybe buying a home, having kids, saving for college — even starting a business. It is the stuff of life — and retirement often takes a backseat to all of those immediate financial priorities. Suddenly, you are hitting your 40s or 50s, and you realize you have fallen behind on planning for your future. So how can you catch up? Debra Greenberg, director, Personal Retirement Strategy and Solutions at Bank […]

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