Recent changes under the One Big Beautiful Bill Act expanded how 529 plans can be used starting in 2026. Here’s a brief overview of what changed. Key Updates State tax treatment can differ from federal rules, so Minnesota residents should confirm details with their specific plan. Contributions and Gifting There […]
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As we officially step into summer and close the books on the first half of 2026, it can be a natural time to pause and reflect. We have seen our share of market fluctuations this past spring, from the geopolitical uncertainties in March and April to shifting inflation narratives, but […]
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Half the year is already behind us. This might be a good time to review your retirement savings progress and consider tax strategies that may improve your financial outlook for 2026 and beyond. Contribution Limits for 2026 401(k), 403(b), and 457 plans: $24,500 employee deferral limit. Age 50 and older […]
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A 401k is often one of the largest assets for retirees. A Roth conversion is one strategy some retirees consider to help manage future taxes and Medicare premiums. What is a Roth conversion? Money moves from a traditional 401k or IRA to a Roth IRA. Taxes are paid on the […]
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The One Big Beautiful Bill Act (OBBBA), signed in 2025, gives taxpayers 65 and older an increased standard deduction through 2028. Married filing jointly with both spouses 65+: extra $6,000 each, total $12,000 added to the base standard deduction. Single filers 65+: extra $6,000. No itemizing needed. Key planning considerations: […]
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It is our belief that true financial success isn’t just about growing wealth, it’s about keeping that wealth working for you over time. Client’s goals are typically specific to them and that is something we try to identify as the first step of our financial planning process. We have seen […]
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Roth conversions involve transferring funds from a traditional IRA to a Roth IRA, offering potential tax and retirement planning benefits. We want to outline the considerations of strategic Roth conversions, focusing on managing conversions to stay within your current federal income tax bracket, based on 2025 tax rules. Consult a […]
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Gabe Fransen | September 15, 2025 We believe that retirement planning extends beyond accumulating savings. When regular paychecks stop, retirees may face challenges such as generating income, managing taxes, protecting assets, and addressing health and family needs. Many strategic retirees rely on informed decisions rather than guesswork to navigate their […]
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Gabe Fransen | April 22, 2025 As financial advisors, We believe a clear financial plan can help anchor a family’s future, not chasing wealth or making bold predictions, rather making thoughtful choices that align with your goals. We think of it as a roadmap, guiding families through life’s changes while […]
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