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 … Read more

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?  … Read more

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 … Read more

The Difference Between Tax-Free and Taxable Investments

This article 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 income on your federal income … Read more

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 72. Failure to take this RMD will … Read more

“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 … Read more

No Deposit. No Return.

This article 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 skills or learn how to … Read more

5 Easy Steps to Get a Paycheck in Retirement

This article is original content written by Manchester, CT Financial Advisor Thomas Scanlon, CFP®, CPA   Playing more golf, going to the beach or spending more time with your grandchildren is how some visualize their retirement.  During your working career you went to work every day to get your paycheck.  Assuming you are fully retired … Read more

7 Easy Year End Tax Saving Steps for Connecticut Taxpayers

  1) Fund a CHET 529 College Savings Plan   529 College Savings Plans are an effective way to save for a child’s or grandchild’s education.  The State of Connecticut allows Connecticut Taxpayers to fund a Connecticut Higher Education Trust (“CHET”) 529 College Savings Plan and take a State Income Tax Deduction.  Married couples filing a … Read more