Wealth Management Center

Perserving and enhancing wealth for the future with financial-planning experts Bill Cass and Chris Hennessey


Six steps to take to prepare for the fiduciary rule

Six steps to take to prepare for the fiduciary rule

September 28, 2016

The DOL’s fiduciary rule will affect the advice industry in 2017 and how advice experts prepare for that change could make a difference in their business.

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November 9, 2016  |  1:15pm ET

Post-election update and year-end tax planning

William D. Cass, CFP®, Director Wealth Management Programs
Christopher P. Hennessey, Lawyer, CPA, Member, Putnam Business Advisory Group
Matthew F. Beaudry, CPA, CIMA®, Senior Investment Director

Deadline to undo a Roth IRA conversion is approaching

Deadline to undo a Roth IRA conversion is approaching

A Roth IRA conversion has a special provision that allows investors to undo the action. The deadline to reverse the action for 2015 tax year is approaching.

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Social Security isn’t just for seniors

Social Security isn’t just for seniors

It's not uncommon to see parents of retirement age with young children at home. In these families, children may be eligible for Social Security benefits.

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Rollover or stay? DOL fiduciary rule brings changes.

Rollover or stay? DOL fiduciary rule brings changes.

Rollovers are a leading driver of IRA assets and the DOL fiduciary rule will introduce new requirements for transactions involving IRAs next year.

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Consider the options when helping grandchildren with college costs

Consider the options when helping grandchildren with college costs

Grandparents seeking to help grandchildren with college costs may contribute in several ways, with different types of accounts and benefits.

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Research and plan for the true cost of college

Research and plan for the true cost of college

Non-tuition college expenses make up a significant portion of the price of going to college, but you may need to research to calculate the true costs.

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Why a college student needs a health-care proxy to unlock barriers for parents

Why a college student needs a health-care proxy to unlock barriers for parents

Parents may face challenges trying to help their child in an emergency at college if they do not have a health-care proxy or power of attorney.

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Off to college? Parents need to consider this checklist

Off to college? Parents need to consider this checklist

Parents may want to discuss numerous topics with children going to college including paying bills, transportation, and seeking health care.

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Will fixing Social Security mean higher taxes and lower benefits?

Will fixing Social Security mean higher taxes and lower benefits?

Multiple recommendations have been made to fix Social Security and some strategies may be more costly for investors.

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Proposals in Congress aim to aid retirement and college savers

Proposals in Congress aim to aid retirement and college savers

While major legislation is unlikely to be passed during an election year, some smaller-scale bills to help savers could be advanced.

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Could an HSA strengthen your retirement plan?

Could an HSA strengthen your retirement plan?

An HSA (Health Savings Account) may offer certain investors tax-advantaged savings for future health costs in retirement.

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How much do you really pay in taxes?

How much do you really pay in taxes?

With a system that includes seven marginal tax rates, numerous surcharges, and an alternative minimum tax it can be difficult to determine a total tax bill.

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Don’t let creditors put your IRA savings at risk

Don’t let creditors put your IRA savings at risk

Creditor risk, which may be overlooked by investors, can erode retirement savings, particularly in an IRA account.

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Non-hardship 401(k) withdrawals can expand investment opportunities

Non-hardship 401(k) withdrawals can expand investment opportunities

Some plan participants may use non-hardship 401(k) withdrawals to invest in individual retirement accounts.

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There’s still time for couples to use this Social Security benefit

There’s still time for couples to use this Social Security benefit

Congress eliminated two Social Security claiming strategies last year, but one can still be used by married couples before it expires.

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Three ways to mitigate health-care costs in retirement

Three ways to mitigate health-care costs in retirement

Aware of rising health-care costs, investors may be looking for strategies to limit the impact of health expenses on retirement savings.

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Expect the unexpected: Many retirees will need long-term care

Expect the unexpected: Many retirees will need long-term care

Many individuals will need some form of long-term care during their retirement years and need to plan ahead.

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Most Americans are mindful of college costs, unaware of 529 plans

Most Americans are mindful of college costs, unaware of 529 plans

A 529 plan is one of several ways to save for college and benefits vary among investment vehicles.

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Add supplemental health coverage to important retirement decisions

Add supplemental health coverage to important retirement decisions

Preparing for adequate health-care coverage in retirement is an essential element of financial planning.

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Know the Medicare basics before enrollment

Know the Medicare basics before enrollment

Understanding some of the main elements about Medicare may help seniors as they navigate enrollment.

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Prince’s death shines spotlight on the importance of a will

Prince’s death shines spotlight on the importance of a will

The death of music superstar Prince underscores the need for investors to prepare an estate plan.

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Be smart with 529 savings plans to maximize financial aid

Be smart with 529 savings plans to maximize financial aid

Here are some saving strategies using 529 savings plans that may help students maximize their eligibility for financial aid.

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Retirement planning for the end of the year

The fourth quarter is an opportune time to take inventory of retirement accounts and review actions such as required minimum distributions and planning strategies before year-end.

Prepare clients for year-end planning

Gifting, required retirement distributions, and charitable donations are among many planning actions that need attention by the end of the year.

There's still time to implement tax-smart strategies

Determining an individual's tax bracket will drive which tax-smart strategies to implement, including managing income, capital gains and losses.

Some estate-planning benefits may be lost if not used

Investors may want to explore gifting and other estate-planning strategies to take advantage of tax benefits that may be limited.

Debt ceiling debate and federal budget on Capitol Hill agenda

As Congress faces a December deadline for the federal budget, the debt ceiling debate was moved up sooner than expected.

Chris Hennessey is Professor Emeritus of Law at the Babson College School of Executive Education and member of the Putnam Investments Business Advisory Group. His opinions do not necessarily reflect those of Putnam Investments.