Financial Education for Colorado Educators (and those they love). Absolutely Free.
I've written previously about how the Consolidation and Appropriations Act of 2023 now allows account holders to transfer money from 529 plans to the beneficiary's Roth IRA beginning in 2024. Now that we're in 2024, Colorado's CollegeInvest 529 Plan (Direct Portfolio plan) has now posted the necessary form. While hopefully you are in the Direct … Continue reading Colorado’s 529-to-Roth IRA Rollover Now Available
Last April I shared our portfolio and some of the different ways we look at it. I thought it might be nice to update it each January. That previous post has a bit more descriptive verbiage, so refer back to it if you need to. Asset Location Like many people, by necessity we have our … Continue reading Our Current Portfolio and Recent Returns
As we are about to turn the page (click the arrow?) on the calendar to move into 2024, there are many changes that happen around taxes. These include tax bracket changes, changes in the limits of what you can contribute to various retirement accounts, and a variety of other changes. The following is by no … Continue reading 2024: New Year, New Limits
First, I need to apologize, because not every Colorado teacher just got a big raise. But due to a confluence of circumstances, quite a few did. These circumstances include: The state legislature having surplus dollars and finally deciding to try to make up for the years of underfunding of K-12 education (known, I kid you … Continue reading Colorado Teachers Just Got a Big Raise: Now What?
Recently I’ve suggested to two different people something they might want to consider regarding an IRA they have inherited from a parent. While this strategy seems pretty straightforward to me, it was very much a surprise to them so I thought it might be worth a quick blog post (well, "quick" for me :-). This … Continue reading Inherited IRAs and the Sidedoor 401k/403b/457b/IRA/HSA
As I mentioned in a previous post, one of the changes made by the recent Consolidated Appropriations Act is the ability - with some important restrictions - to transfer some money from a 529 plan to a Roth IRA. The intent of this law is good, I think. Some people have been hesitant to save … Continue reading 529 to Roth Conversions: Some Possibilities