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What GRANDPARENTS Don’t Know About 529 College Savings Plans

Written by Zachary Morris, CFP® on .

IIn this video, we’re diving into everything grandparents need to know about 529 plans—a powerful tool for supporting your grandchildren’s educational future. 529 plans are tax-advantaged savings accounts designed for education expenses, and they offer unique benefits that can make a big difference over time. But there are important rules, benefits, and strategies to be aware of if you’re a grandparent looking to contribute to your grandchild’s college fund.

By setting up or contributing to a 529 plan, you can help reduce the financial burden on your children’s family while potentially lowering the value of your estate. We’ll discuss how 529 plans work and explain the key features that make them beneficial for grandparents looking to invest in their grandchild’s future. I’ll break down tax advantages, contribution limits, and the impact on financial aid eligibility, so you can make the most out of each dollar saved. You’ll also learn about the flexibility of 529 plans, including options if funds go unused or if you want to change the plan beneficiary. With these insights, you’ll have the tools to make informed decisions and support your family in a meaningful way.

Save on Taxes by Gifting Money Strategically!

Written by Zachary Morris, CFP® on .

In this video, I’ll explain simple steps for transferring wealth to the next generation without the need for complex estate planning. By planning strategically, you can use these straightforward strategies to lower your taxable estate and allow your loved ones to benefit from your assets now, sharing in that impact while you’re still here. Effective wealth transfer is more than just inheritance—it’s about building a legacy that supports your family in meaningful ways during your lifetime.

We’ll discuss tax-efficient gifting strategies that make it easier to share your wealth without adding unnecessary tax burdens. Key topics include lifetime gift exemptions and how they can be used to maximize wealth transfer and allow assets to grow outside your estate, as well as simple strategies for transferring wealth to the next generation. Together, these approaches help your hard-earned assets make the greatest impact on your family’s future.

What is IRMAA? How to Avoid Medicare Premium Surcharges in 2025

Written by Zachary Morris, CFP® on .

In this video, I’ll explain everything you need to know about IRMAA (Income-Related Monthly Adjustment Amount), including how it affects your Medicare Part B and Medicare Part D premiums. IRMAA is a surcharge added to your Medicare premiums based on your Modified Adjusted Gross Income (MAGI), typically from two years prior. It’s important to understand how IRMAA is calculated because it can lead to higher Medicare premiums if your income exceeds certain thresholds.

You’ll learn the specific income levels that trigger IRMAA, and I’ll walk you through effective strategies to help manage your Medicare costs. I’ll also discuss how IRMAA is tied to your past income and how to handle this during your retirement years to minimize its financial impact. Plus, I’ll share a trick to appeal your IRMAA charge if you’ve experienced a life-changing event that has reduced your income, helping you save money on Medicare Part B and Medicare Part D premiums.

Understanding the Medicare IRMAA appeal process is critical if you’re looking to challenge your Medicare premiums. In this video, I’ll go over the steps you need to take to potentially lower your Medicare Part B premiums using the appeal process, to help you not pay more than you should.

Get the MOST Out of Your Charity Donations with These 3 Simple Strategies

Written by Zachary Morris, CFP® on .

In this video, I’ll break down three powerful methods to give to charity that can maximize both your impact and potential tax benefits. From gifting stock and utilizing required minimum distributions (RMDs) to setting up a charitable gift fund, each approach has unique advantages that can make your contributions go further. Charitable giving isn’t just about financial generosity—it’s a strategic part of your financial plan that helps the causes you care about while benefiting your financial picture.

First, we’ll look at gifting appreciated stock to charity. This approach lets you avoid capital gains taxes on stock increases while offering the full value of the stock to charity, effectively increasing the impact of your gift. Gifting stock can be a tax-efficient way to contribute, especially if you’ve held appreciated stock for over a year.

Next, gifting required minimum distributions (RMDs) directly to charity can help you meet your annual distribution requirements while lowering your taxable income. Instead of receiving RMDs as income, this option allows you to direct them straight to a charity, helping you avoid the tax burden while fulfilling your giving goals.

Finally, using a charitable gift fund offers a flexible way to contribute over time. Charitable gift funds let you make a tax-deductible donation now and decide which charities to support later, giving you more control and flexibility in your giving plan. This can be particularly advantageous if you wish to donate in larger sums or support multiple charities at your own pace.

Through these strategies, you’ll gain insights into how each method can amplify your charitable contributions, optimize tax savings, and align with your long-term financial goals. By understanding the benefits of each approach, you’ll be equipped to make the most out of your charitable efforts.

Get the MOST Out of Your Social Security Benefit Explained!

Written by Zachary Morris, CFP® on .

In this video, I’ll cover everything you need to know about Social Security benefits—from how to qualify to strategies for maximizing your income. If you’re wondering when to file, how to take advantage of spousal benefits, or what survivor benefits mean for your family, this video will answer all your questions.

Understanding Social Security is crucial for thoughtful retirement planning. I’ll break down the essential steps to help you make informed decisions to maximize your benefits.

We’ll explore how to qualify for Social Security benefits and the steps needed to meet eligibility. You’ll learn when to file for maximum income and how spousal benefits work, including who qualifies and how couples can plan strategically. We’ll also cover survivor benefits to help you understand how your loved ones can benefit and critical tax considerations to determine if your benefits will be taxed.