Author - Vid Ponnapalli, MS, CFP®, MPAS®,CRPC®

1
4 Ways to Save on Taxes When You Fund Higher Education
2
All You Need to Know About Saving for Emergencies
3
How to tap Your Retirement Savings Penalty-Free
4
What to Do When You Have Employer Stock in Your Retirement Plan
5
3 Most Dangerous Myths of Retirement Planning

4 Ways to Save on Taxes When You Fund Higher Education

It is tax time – whether we like it or not! And you could save significant tax dollars if you recently funded your kids’ college education or your own. Here is what you need to know.

Your children are in college. You are determined to pay for their education. It is a lot of money! You wonder if Uncle Sam helps you here – I mean, in the form of tax incentives. Well, in fact, he does.

Thanks to the current laws, yes you could save on taxes when you pay for higher education. While the finest details are in …

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All You Need to Know About Saving for Emergencies

At the end of 2015, a Bankrate.com survey showed that only 37% of respondents would be able to pay for an unexpected expense with their savings. According to a CNBC article, that equates to about 66 million Americans with no emergency savings. These numbers are indeed very troubling!

Where do you stand in this equation? Are you part of the minority who have enough saved up? If you are, well done! Or are you part of the 66 million Americans who do not have the savings? If you are part of the majority, here are some things for you …

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How to tap Your Retirement Savings Penalty-Free

This article was originally published by Vid Ponnapalli on

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Saving for retirement is an important financial goal, but many people struggle with it. Some are concerned that it means locking up funds and making them inaccessible for other financial goals. But this, in fact, is a myth.

For example, a young 28-year-old entrepreneur once asked me if she could use some of these funds towards down payment for her first home. A 40-year old mid-career professional wondered if he could use any of his retirement money for college costs for his children. And a 56-year old individual, who lost …

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What to Do When You Have Employer Stock in Your Retirement Plan

This article was originally published by Vid Ponnapalli on

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You changed jobs. You have funds in your ex-employer’s retirement plan that includes some employer’s stock. What should you do? Roll the funds tax-free to an individual retirement account? This may not be the best move in all cases, especially not if your employer stock has appreciated significantly.

Thanks to an often overlooked tax concept called “net unrealized appreciation” (NUA), here is a strategy that could be financially more beneficial to you: Instead of rolling over to an IRA, take an in-kind distribution of the stock. In other words, move the …

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3 Most Dangerous Myths of Retirement Planning

This article was originally published by Vid Ponnapalli on Kiplinger’s Wealth creation channel.

Recently I was talking to a good friend of mine, who is in his early fifties, about his retirement planning. I asked him how prepared he was. Here is what he said:

“I am all covered. I will retire at 65. I expect my retirement expenses to be 70% of my pre-retirement expenses. I will have saved up $1 million by the time I retire. I will invest this money in a portfolio of stocks and bonds with my stock allocation equaling 100 minus my …

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