News
How AI is Making Financial Fraud Harder to Spot
As we continue to navigate the digital era, the technological advancements of Artificial Intelligence (AI) have impacted many industries, most notably finance and banking.
Hudson Valley Financial Services Firm Launches 930 Plan
Hudson Valley-based Max It Out Retirement is rolling out an exciting new financial plan for young families and professionals: the 930 Plan. 930 Plan, which was coined by adding 401 + 529, from the popular 401K retirement and 529 college savings plans, is an innovative new long-term savings vehicle. The plan is a multipurpose solution to long-term savings, allowing individuals to save for education, retirement, or whatever the desired use – with no tax implications or penalties.
In one streamlined plan, it does what several do, but better: provides a way to smartly save for higher education, retirement, and it provides protection for loved ones. With the 930 plan, there are no penalties for not using the funds for one allotted purpose, as is found with 529 plans – individuals have the flexibility to use the funds for the big-ticket items or services that best suit their families. Furthermore, 930 plan holders won’t be taxed or penalized for a withdrawal before the age of 59 ½ as is the case with 401Ks. And, the 930 plan is a tax efficient strategy, meaning individuals are taxed upfront, not in years or decades, when history and current events dictate the tax rates will be much higher.
“This is not your parents’ savings plan,” says Chuck Omphalius, managing partner of Max It Out Retirement, the parent company of the 930 Plan. “We believe this is the savings vehicle of the future – one that works exactly as an individual needs it to, when the individual wants it, with minimal tax implication and maximum flexibility and benefit.”
The 930 plan aims to reach young families and professionals with a generationally unique, tax smart approach to long-term savings. This tax-sheltered plan enables individuals to keep more money in their own hands to grow tax-free for the things that are most important to their families and their futures.
For more information about the 930 Plan or to schedule a meeting, please visit www.930plan.com, email info@930plan.com or follow on social media.
About 930 Plan and Max It Out Retirement
The 930 plan is the new, tax smart, long-term savings vehicle of Max It Out Retirement. Based in Fishkill, NY, in the heart of New York’s Hudson Valley region, the firm specializes in helping individuals from all economic backgrounds reach their financial goals and achieve optimal retirement. For more information on Max It Out Retirement, visit www.mioretirement.com. Book a call to discuss your future today.
What You Need to Know About the Continued Booming Housing Market
We’re in the middle of a global pandemic, so why booming housing market? After all, the economy is down, and countless Americans are struggling with their finances. After all, the economy is down, and countless Americans are struggling with their finances. Let’s take a closer look at several of the many reasons the housing market is so hot during these unprecedented times.
How to Prepare for Retirement in a Post-COVID Era
If the coronavirus pandemic has taken a toll on your finances, you may need to rethink your retirement strategy if you’ve lost your job, work part-time, or transitioned to a lower paying job. Here are some tips that may help you prepare for retirement and create a financially secure future in a post-COVID era.
Women and Retirement
When it comes to retirement, women can experience more challenges saving for retirement than men. Some of these challenges include leaving the workforce to care for children or other family members and lower pay or challenges in finding full-time employment.
Retirement Income Planning 101
When it comes to retirement and retirement income, you probably know that saving for it as early as possible is essential. This way, you can tap into the power of compound interest and build a healthy nest egg for your future.
How to Prepare for Tax Season
Tax season is fast approaching! If you’re hiring a Certified Public Accountant (CPA), accountant, or other tax professional to handle your taxes, you still have to do some work. It’s your responsibility to gather certain documents so that your tax pro has everything they need to file your return.
Financial Aid Awareness Month Tips and Ideas
February is Financial Aid Awareness Month. Its purpose is to provide important information to students and their families about financial aid. If you have children or grandchildren who plan to attain higher education after high school, now is the perfect time to increase your knowledge about the college funding process.
Protect Your Loved Ones with Life Insurance
This Valentine’s Day, you owe it to yourself to show your loved ones just how much they mean to you. By investing in life insurance, you can protect your loved ones. At its core, life insurance helps protect your family from financial hardship in the event you unexpectedly pass away.
How the New President May Affect Your Finances
In honor of President’s Day on February 15th, it may be a good idea to discuss with your financial professional how our new president, Joe Biden, may affect your finances, taxes, and retirement. Meeting with your financial professional will enable you to prepare accordingly for the next four years and beyond. Here’s a brief overview of what Biden has in store for his upcoming term:
