Wealth Management Center

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


Research and plan for the true cost of college

Research and plan for the true cost of college

August 23, 2016

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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Health-care costs add uncertainty to retirement planning

Health-care costs add uncertainty to retirement planning

Health-care spending increases with age and has become an important consideration when saving for retirement.

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Provision to make tax-free donations using an IRA is permanent

Provision to make tax-free donations using an IRA is permanent

Retirees at age 70½ may direct IRA assets to a charity tax-free under a provision made permanent by Congress.

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Four ways to put your tax refund to work for you

Four ways to put your tax refund to work for you

Whether saving for college, paying down debt, or planning for retirement there are many options for using your tax refund.

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DOL unveils final fiduciary rule

DOL unveils final fiduciary rule

Certain elements of the DOL's proposed fiduciary rule were modified in the final version released this week.

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Time is running out for a Social Security claiming option

Time is running out for a Social Security claiming option

Couples considering a file-and-suspend strategy to claim Social Security must act by the end of April if they are eligible.

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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.