The Difference Between Tax-Deferred and Tax-Free Investing

This article, last updated in December 2023, is original content written by Manchester, CT Financial Advisor Thomas Scanlon, CFP®, CPA. Investors need to know the difference between tax-deferred and tax-free investing. Tax-Deferred Investing Investors can avail themselves to tax-deferred investing by contributing to their 401(k) plan at work or by funding their IRA. Contributions to… Continue Reading: The Difference Between Tax-Deferred and Tax-Free Investing

5 Reasons to Fund a 529 College Savings Plan

This article is original content written by Manchester, CT Financial Advisor Thomas Scanlon, CFP®, CPA 1) College is Expensive Financing a college education today can be a big challenge.  Having written some checks for college I find it handy to have a cold six pack close by. According to the College Board, the average tuition… Continue Reading: 5 Reasons to Fund a 529 College Savings Plan

“It’s Not About the Money”

This article is original content written by Manchester, CT Financial Advisor Thomas Scanlon, CFP®, CPA Don’t you just love it when a Major League athlete signs a huge contract with a new team and says, “It’s not about the money.” Bull Just to be clear: It’s always about the money! Don’t get me wrong I… Continue Reading: “It’s Not About the Money”

3 Proven Reasons You Need a Roth IRA

This article is original content written by Manchester, CT Financial Advisor Thomas Scanlon, CFP®, CPA To be eligible for a Roth IRA you need to have earned income from wages or from self-employment.  Additionally higher income earners are not eligible.  Married couples filing a joint return with a modified adjusted gross income of less than… Continue Reading: 3 Proven Reasons You Need a Roth IRA

When You Should Take Your Required Minimum Distribution Early

This article is original content written by Manchester, CT Financial Advisor Thomas Scanlon, CFP®, CPA Required Minimum Distribution The Internal Revenue Service (“IRS’) requires taxpayers to begin to take their Required Minimum Distribution (“RMD”) from their IRA’s and 401(k) plans by April 1st following the year they turn 73. Failure to take this RMD will… Continue Reading: When You Should Take Your Required Minimum Distribution Early

The Difference Between a Roth IRA and an IRA

This article on savings during retirement is original content written by Manchester, CT Financial Advisor Thomas Scanlon, CFP®, CPA The Roth IRA and an IRA both offer different tax advantaged ways to save for retirement. If you are serious about your retirement plan take these 5 Easy Steps to Retirement. Roth IRA In 2021, investors… Continue Reading: The Difference Between a Roth IRA and an IRA

3 Easy Things to Know to Get Tax Smart Investing

This article is original content written by Manchester, CT Financial Advisor Thomas Scanlon, CFP®, CPA 1. Know Where to Start Most advice would suggest starting with knowing your goals. This is good advice with financial planning; it’s just not the first place to start. The first step is to have an adequate Cash Reserve.  Everyone… Continue Reading: 3 Easy Things to Know to Get Tax Smart Investing

How to Use the Tax Code to Retire in Style

This article is original content written by Manchester, CT Financial Advisor Thomas Scanlon, CFP®, CPA How do you envision your retirement?  Spending long, lazy days at the beach? Spending more time with your grandchildren? Going golfing or fishing a lot more?  Everyone has their own ideal retirement plan.  Want more help getting to your retirement? … Continue Reading: How to Use the Tax Code to Retire in Style

The Difference Between Tax-Free and Taxable Investments

This article, last updated in December 2023, is original content written by Manchester, CT Financial Advisor Thomas Scanlon, CFP®, CPA. Investors need to know the difference between tax-free and taxable investments. Tax-Free Investments One way to have tax-free investments is to own state or municipal bonds. The interest paid on these bonds is not taxable… Continue Reading: The Difference Between Tax-Free and Taxable Investments

No Deposit. No Return.

This article, last updated in December 2023, is original content written by Manchester, CT Financial Advisor Thomas Scanlon, CFP®, CPA. What does this mean? If you don’t put something in (deposit) you won’t get something out (return). Isn’t that the truth? This applies whether you want to learn to play the guitar, improve your culinary… Continue Reading: No Deposit. No Return.