Planning your financial calendar for 2024
The hardest thing to do about tackling something new is to start. So I’ve started you off with an outline of what you might want to consider doing in 2024 on the financial front, so that all you have to do is put it on your calendar and do it….
The most common retirement planning questions asked of advisors
Lots of people have anxiety about their finances. Teens take magazines quizzes to make themselves feel like their concerns about friendships, acne, hormones, and appearances are normal. Adults look around the internet, or talk to family and friends, to reassure themselves that the financial questions they have are normal. Indeed,…
“The 36 Hour Day” – book review
The costs of dementia Losing one’s mental facilities is not on anyone’s New Year wish list. But for 1 in 5 women, and 1 in 10 men, and everyone who loves them, that’s the reality, whether to dementia in general or the more specific form of Alzheimer Disease. On top…
Take the ACT or SAT to reduce college costs
When we were getting ready for college a couple decades ago, taking the ACT or SAT was required. With the disrupting influence of COVID-19, today many colleges have gone “test optional“, which means they do not require taking and reporting the ACT or SAT to consider you for acceptance at…
Your finances should be like a visit to the Civic Center
By which I mean personalized. Our Rochester Minnesota Civic Center has recently announced that for guests who are easily overwhelmed by sensory input, they can request a sensory reduction kit to borrow during their visit. That’s a personalized experience that can be opted into, to greatly reduce the challenge for…
What will be different when you file your 2023 taxes?
For most people, spring 2024 tax filing federally for the 2023 tax year will not be much different. But there are a few Minnesota-specific changes that may be of interest. Federally There are no major changes federally. The IRS only took this opportunity to remind taxpayers of the benefits of…
Understanding estate taxes in Minnesota
Taxation types Every state has their own tax system, raising revenue for state purposes. States raise revenue by incorporating their own ratio of income tax, property tax, sales and use taxes, estate tax and inheritance tax. If you are choosing between states you would otherwise like to live in (for…
One set of junk fees is going away
You know how when you go to buy a bed, the list price is never what you pay? There’s always all of those “extras”, many of which aren’t negotiable – their specific mattress pad cover that is extremely expensive and required in order to maintain their warranty, the extra mattress…
Property taxes for ISD535 are going up for 2024
If you live in Olmsted County, Minnesota, in the Rochester area, you know that Independent School District 535 (eg the Rochester school district) put forth a levy referendum on the November 2023 ballot, asking for $10M for technology. This referendum failed. But that doesn’t mean your school-related taxes aren’t going…
Timely student loan news: IDR and Public Service consolidation timeline extended to April 2024
What is consolidation? Consolidation is bringing all of your federal loans, including some that previously had not been eligible for specific types of consideration, into the forgiveness picture. Who should consider consolidation? Consolidation is a technique being used right now for federal student loans that are going to be repaid…