Orchestrating Your Retirement Accounts

Orchestrating Your Retirement Accounts

An orchestra is merely a collection of instruments, each of which brings a unique sound. It is only when a conductor leads them that they create the beautiful music imagined by the composer.

The same can be said about your retirement strategy.

The typical retirement strategy is built on the pillars of your 401(k) plan, your IRA, and taxable savings. Getting the instruments of your retirement to work in concert has the potential to go far in realizing the retirement you imagine.

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Getting a Head Start on College Savings

Getting a Head Start on College Savings

The U.S. Department of Agriculture estimates a middle-income family with a child born in 2015 can expect to spend about $275,000 to raise a child to the age of 17. That’s’ roughly equal to the median value of a new home in the U.S.

And if you’ve already traded that super-charged convertible for a minivan, you can expect your little one’s college education to cost as much as $324,000.

But before you throw your hands up in the air and send junior out looking for a job, you might consider a few strategies to help you prepare for the cost of higher education. 

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What If You Get Audited?

What If You Get Audited?

“Audit” is a word that can strike fear into the hearts of taxpayers.

However, the chances of an Internal Revenue Service audit aren’t that high. In 2013, the IRS audited 1.0% of all individual tax returns. And being audited does not necessarily imply that the IRS suspects wrongdoing. The IRS says an audit is just a formal review of a tax return to ensure information is being reported according to current tax law and to verify that the information itself is accurate. 

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