Being wealthy doesn't mean having all the money in the world, just not having to worry about it.

Taxes on Trust Accounts

Question: A friend has trust funds for each of her children’s college education. Each trust is currently about $200k. The elder child is a high school sophomore and the trust is currently 70% equities. Should that number be reduced even though the capital-gains taxes may be quite high? Answer: The taxation of income retained by trusts is Read more »

Choosing between 529 Plan Contributions and Municipal Bonds

Question: We’re hoping to get your advice on an investment we’re considering outside of our retirement accounts. I’ll try to keep this brief. My wife and I have paid off the mortgage on our primary residence, and the only debt we have is a rental home that we plan to sell eventually (it currently covers Read more »