Purposeful Planning with Aspen Wealth Management

Social Security provides retirement income for millions of Americans, yet many people can't answer basic questions about how it works. In this episode of Purposeful Planning, we explore everything from setting up your online account to deciding when to claim benefits. Whether you're helping aging parents navigate their options or planning your own retirement strategy, understanding Social Security is crucial for making informed decisions that could impact your financial security for decades.  Sources:    https://www.cbpp.org/research/social-security/top-ten-facts-about-social-security#:~:text=It%20also%20provides%20important%20life,Social%20Security%20payroll%20tax%20contributions:  https://www.gobankingrates.com/retirement/social-security/americans-dont-understand-facts-about-social-security/  https://www.ssa.gov/myaccount/  https://www.ssa.gov/benefits/retirement/planner/agereduction.html https://www.ssa.gov/faqs/en/questions/KA-02459.html  https://www.aspenwealthmgmt.com/resource-center/retirement/medicare-made-easy-retirement-healthcare-costs https://www.aspenwealthmgmt.com/resource-center/blog/social-security-retirement-basics-what-to-know   The opinions voiced in this material are for general information only and are not intended to provide specific advice or recommendations for any individual.    This information has been derived from sources believed to be accurate and is intended merely for educational purposes, not as advice.   Aspen Wealth Management is a registered investment advisor with the SEC.  This recorded posting utilizes AI generated voiceovers. While the Firm strictly prohibits the use of AI for advisory activities constituting investment advice, financial plans, portfolio analysis and management, and reporting, the use of AI for other purposes, such as voiceovers, is permitted and utilized for the firm’s recordings.  Hosted on Acast. See acast.com/privacy for more information.

When you're starting your career, financial planning can feel like a luxury you can't afford. In this episode of Purposeful Planning, we explore why establishing good financial habits early is one of the most powerful moves young professionals can make. From the magic of compound growth to practical strategies for saving and investing, discover how small steps today can lead to significant financial security tomorrow.  Sources:    https://www.cnbc.com/2025/06/04/expert-tips-for-saving-more-money.html https://www.sofi.com/learn/content/average-stock-market-return/#:~:text=The%20average%20stock%20market%20return%20of%20the%20S&P%20500%20is,much%20higher%20or%20much%20lower https://business.yougov.com/content/51940-what-kind-of-americans-own-stocks-and-how-do-they-handle-volatility https://www.aspenwealthmgmt.com/resource-center/financial-planning/good-financial-habits-for-young-couples https://www.aspenwealthmgmt.com/resource-center/financial-planning/starting-on-the-right-foot-financial-tips-for-young-professionals  The opinions voiced in this material are for general information only and are not intended to provide specific advice or recommendations for any individual.    This information has been derived from sources believed to be accurate and is intended merely for educational purposes, not as advice.   Aspen Wealth Management is a registered investment advisor with the SEC.  This recorded posting utilizes AI generated voiceovers. While the Firm strictly prohibits the use of AI for advisory activities constituting investment advice, financial plans, portfolio analysis and management, and reporting, the use of AI for other purposes, such as voiceovers, is permitted and utilized for the firm’s recordings. Hosted on Acast. See acast.com/privacy for more information.

After decades of saving for retirement, many people focus entirely on accumulation without considering how they'll actually withdraw those funds. In this episode of Purposeful Planning, we explore retirement withdrawal strategies that can help you pay less in taxes, protect your Social Security benefits, and potentially make your money last longer. From the conventional wisdom of spending taxable accounts first to alternative approaches that might work better for your situation, discover how to turn your nest egg into sustainable retirement income.  Sources:    https://www.ssa.gov/OACT/population/longevity.html https://www.schwab.com/public/file/P-13005058  https://www.cbsnews.com/news/how-much-of-your-social-security-income-is-taxable/#:~:text=If%20your%20combined%20income%20is%20less%20than,85%25%20of%20your%20benefits%20may%20be%20taxable. https://www.aspenwealthmgmt.com/blog/webinars/tax-smart-retirement-keeping-more-of-what-youve-earned  https://www.aspenwealthmgmt.com/contact-us-fee-only-advisors-fort-worth   The opinions voiced in this material are for general information only and are not intended to provide specific advice or recommendations for any individual.    This information has been derived from sources believed to be accurate and is intended merely for educational purposes, not as advice.   Aspen Wealth Management is a registered investment advisor with the SEC.  This recorded posting utilizes AI generated voiceovers. While the Firm strictly prohibits the use of AI for advisory activities constituting investment advice, financial plans, portfolio analysis and management, and reporting, the use of AI for other purposes, such as voiceovers, is permitted and utilized for the firm’s recordings.  Hosted on Acast. See acast.com/privacy for more information.

As summer winds down and college preparations begin, families face important decisions about education funding, school selection, and financial aid. In this episode of Purposeful Planning, we explore strategies for making college more affordable and manageable—from the power of starting early with 529 plans to navigating the updated FAFSA process. Whether you're sending your first child to college or your last, these insights can help you make informed decisions about higher education investments.  Sources:    https://www.aspenwealthmgmt.com/resource-center/lifestyle/countdown-to-college/ https://www.aspenwealthmgmt.com/resource-center/estate/smart-tips-for-529-plans https://www.aspenwealthmgmt.com/resource-center/blog/fafsa-changes-2024-25/ https://www.aspenwealthmgmt.com/contact-us-fee-only-advisors-fort-worth https://www.aspenwealthmgmt.com/resource-center/financial-planning/college-funding-planning   The opinions voiced in this material are for general information only and are not intended to provide specific advice or recommendations for any individual.    This information has been derived from sources believed to be accurate and is intended merely for educational purposes, not as advice.   Aspen Wealth Management is a registered investment advisor with the SEC.  This recorded posting utilizes AI generated voiceovers. While the Firm strictly prohibits the use of AI for advisory activities constituting investment advice, financial plans, portfolio analysis and management, and reporting, the use of AI for other purposes, such as voiceovers, is permitted and utilized for the firm’s recordings. Hosted on Acast. See acast.com/privacy for more information.

Medicare decisions can feel overwhelming, but they're among the most essential choices you'll make in retirement. In this episode of Purposeful Planning, we break down the four parts of Medicare, explain the difference between Medicare Advantage and Medigap coverage, and share crucial timing information about enrollment periods. Whether you're approaching 65 or helping a parent navigate these decisions, understanding Medicare basics can provide peace of mind about healthcare costs in retirement.  Sources:    http://news.ehealthinsurance.com/news/health-care-costs-top-the-list-of-financial-worries-in-retirement-new-research-from-ehealth-and-retirable-shows  https://www.aarp.org/medicare/understanding-medicare-the-plans/ https://www.ssa.gov/benefits/medicare/medicare-premiums.html https://www.medicare.gov/health-drug-plans/health-plans/your-health-plan-options https://www.ncoa.org/article/what-is-the-difference-between-medicare-advantage-and-medigap/  https://www.medicare.gov/basics/get-started-with-medicare/sign-up/when-does-medicare-coverage-start  https://www.investopedia.com/terms/c/creditable-coverage.asp  https://www.aspenwealthmgmt.com/blog/webinars/medicare-made-easy-preparing-for-healthcare-costs-in-retirement/  https://www.aspenwealthmgmt.com/contact-us-fee-only-advisors-fort-worth https://www.aspenwealthmgmt.com/resource-center/retirement/medicare-made-easy-retirement-healthcare-costs  The opinions voiced in this material are for general information only and are not intended to provide specific advice or recommendations for any individual. This information has been derived from sources believed to be accurate and is intended merely for educational purposes, not as advice. Aspen Wealth Management is a registered investment advisor with the SEC. This recorded posting utilizes AI generated voiceovers. While the Firm strictly prohibits the use of AI for advisory activities constituting investment advice, financial plans, portfolio analysis and management, and reporting, the use of AI for other purposes, such as voiceovers, is permitted and utilized for the firm’s recordings.  Hosted on Acast. See acast.com/privacy for more information.

Restricted Stock Units can be a powerful wealth-building tool for corporate executives, but they come with important decisions about timing, taxes, and portfolio diversification. In this episode of Purposeful Planning, we break down the key factors executives should consider when managing RSUs—from understanding vesting schedules to avoiding over-concentration in company stock. Learn how to make strategic decisions that align with your overall financial goals.  Sources:    https://www.aspenwealthmgmt.com/resource-center/financial-planning/knowing-how-and-when-to-sell-rsus  https://www.aspenwealthmgmt.com/resource-center/blog/understanding-your-options   The opinions voiced in this material are for general information only and are not intended to provide specific advice or recommendations for any individual.    This information has been derived from sources believed to be accurate and is intended merely for educational purposes, not as advice.   Aspen Wealth Management is a registered investment advisor with the SEC.  This recorded posting utilizes AI generated voiceovers. While the Firm strictly prohibits the use of AI for advisory activities constituting investment advice, financial plans, portfolio analysis and management, and reporting, the use of AI for other purposes, such as voiceovers, is permitted and utilized for the firm’s recordings.  Hosted on Acast. See acast.com/privacy for more information.

Planning a vacation with your grandchildren can create priceless memories while giving parents some well-deserved time off. In this episode of Purposeful Planning, we explore how to plan multi-generational trips that work for everyone—from selecting destinations that appeal to different age groups to handling the practical details, such as travel documents and permissions. Whether you're considering a national park adventure or an international getaway, learn how to make your grandparent vacation dreams a reality.  Sources:    https://www.familyvacationcritic.com/us-national-parks-kids-should-see-before-they-grow-up/art/  https://www.familyvacationcritic.com/international-travel-with-kids-what-to-know-tips-and-more/art/  https://www.parents.com/grandparent-traveling-with-grandchild-8658748  https://www.usa.gov/travel-documents-children  https://www.forbes.com/advisor/travel-insurance/best-travel-insurance/  https://www.aspenwealthmgmt.com/resource-center/lifestyle/vacationing-with-grandchildren   The opinions voiced in this material are for general information only and are not intended to provide specific advice or recommendations for any individual.    This information has been derived from sources believed to be accurate and is intended merely for educational purposes, not as advice.   Aspen Wealth Management is a registered investment advisor with the SEC.  This recorded posting utilizes AI generated voiceovers. While the Firm strictly prohibits the use of AI for advisory activities constituting investment advice, financial plans, portfolio analysis and management, and reporting, the use of AI for other purposes, such as voiceovers, is permitted and utilized for the firm’s recordings.  Hosted on Acast. See acast.com/privacy for more information.

When money isn't an issue, should your teenager still work a summer job? In this episode of Purposeful Planning, we explore why summer employment remains valuable for teens from wealthy families. From building work ethic and financial literacy to funding retirement accounts early, discover how summer jobs provide benefits that money can't buy—even when you have plenty of it.  Sources:    https://www.aspenwealthmgmt.com/resource-center/lifestyle/does-our-kid-need-a-summer-job https://www.aspenwealthmgmt.com/resource-center/blog/protect-children-inheritance-trust   The opinions voiced in this material are for general information only and are not intended to provide specific advice or recommendations for any individual.    This information has been derived from sources believed to be accurate and is intended merely for educational purposes, not as advice.   Aspen Wealth Management is a registered investment advisor with the SEC.  This recorded posting utilizes AI generated voiceovers. While the Firm strictly prohibits the use of AI for advisory activities constituting investment advice, financial plans, portfolio analysis and management, and reporting, the use of AI for other purposes, such as voiceovers, is permitted and utilized for the firm’s recordings.  Hosted on Acast. See acast.com/privacy for more information.

The difference between the Vanderbilt and Rockefeller legacies isn't just about money—it's about preparation. In this episode of Purposeful Planning, we explore how wealthy families can prepare the next generation to become responsible stewards of financial and philanthropic legacies. With $124 trillion expected to transfer between generations in the coming decades, the importance of communication, education, and values-based planning has never been greater.  Sources:    https://www.aspenwealthmgmt.com/resource-center/blog/different-stages-of-the-financial-journey https://www.cerulli.com/press-releases/cerulli-anticipates-124-trillion-in-wealth-will-transfer-through-2048#:~:text=However%2C%20Gen%20X%20stands%20to,those%20recipients%2C  https://www.aspenwealthmgmt.com/resource-center/estate/test-your-estate-strategy-knowledge https://www.aspenwealthmgmt.com/resource-center/financial-planning/next-generation-financial-leadership   The opinions voiced in this material are for general information only and are not intended to provide specific advice or recommendations for any individual.    This information has been derived from sources believed to be accurate and is intended merely for educational purposes, not as advice.  This recorded posting utilizes AI generated voiceovers. While the Firm strictly prohibits the use of AI for advisory activities constituting investment advice, financial plans, portfolio analysis and management, and reporting, the use of AI for other purposes, such as voiceovers, is permitted and utilized for the firm’s recordings.  Hosted on Acast. See acast.com/privacy for more information.

Our online presence extends far beyond social media in today's digital world. From email accounts and banking apps to photos, music, and even cryptocurrency, we all leave behind a digital footprint. This episode of Purposeful Planning explores the importance of including digital assets in your estate plan, the laws governing digital inheritance, and practical steps to help maintain your online legacy is properly managed according to your wishes.  Sources:    https://www.experian.com/blogs/ask-experian/what-is-digital-estate-plan/  https://www.uniformlaws.org/committees/community-home?CommunityKey=f7237fc4-74c2-4728-81c6-b39a91ecdf22  https://www.aspenwealthmgmt.com/contact-us-fee-only-advisors-fort-worth  The opinions voiced in this material are for general information only and are not intended to provide specific advice or recommendations for any individual.    This information has been derived from sources believed to be accurate and is intended merely for educational purposes, not as advice.  This recorded posting utilizes AI generated voiceovers. While the Firm strictly prohibits the use of AI for advisory activities constituting investment advice, financial plans, portfolio analysis and management, and reporting, the use of AI for other purposes, such as voiceovers, is permitted and utilized for the firm’s recordings.  Hosted on Acast. See acast.com/privacy for more information.

Everyone has an estate plan—whether they've created one or the state has one for them by default. In this episode of Purposeful Planning, we demystify some of the more advanced estate planning tools that go beyond basic wills. From charitable remainder trusts to grantor-retained arrangements, learn how these specialized instruments can help preserve your assets, support your favorite causes, and ensure your wishes are carried out efficiently.  Sources:    https://www.investopedia.com/terms/c/charitable-remainder-annuity-trust.asp https://www.irs.gov/charities-non-profits/charitable-remainder-trusts https://www.fidelity.com/viewpoints/wealth-management/insights/grantor-retained-annuity-trusts https://smartasset.com/estate-planning/grantor-retained-income-trust https://www.law.cornell.edu/wex/grantor-retained_unitrust https://www.aspenwealthmgmt.com/estate-planning   The opinions voiced in this material are for general information only and are not intended to provide specific advice or recommendations for any individual.    This information has been derived from sources believed to be accurate and is intended merely for educational purposes, not as advice.  This recorded posting utilizes AI generated voiceovers. While the Firm strictly prohibits the use of AI for advisory activities constituting investment advice, financial plans, portfolio analysis and management, and reporting, the use of AI for other purposes, such as voiceovers, is permitted and utilized for the firm’s recordings.  Hosted on Acast. See acast.com/privacy for more information.

Is midlife destined to be a crisis, or can it be a time of positive reflection and renewal? In this episode of Purposeful Planning, we explore how to transform the traditional "midlife crisis" into an opportunity for meaningful growth. Learn how to assess your accomplishments, realign your priorities, and develop a financial roadmap for your "next act"—whether that's a traditional retirement, a hybrid approach, or something entirely different.  Sources:    https://www.aspenwealthmgmt.com/resource-center/blog/different-stages-of-the-financial-journey https://www.forbes.com/sites/jannfreed/2024/06/03/3-reasons-not-to-retire/ https://www.aspenwealthmgmt.com/resource-center/lifestyle/gratitude-and-retirement  https://www.aspenwealthmgmt.com/resource-center/financial-planning/what-crisis-making-midlife-a-time-of-anticipation   The opinions voiced in this material are for general information only and are not intended to provide specific advice or recommendations for any individual.    This information has been derived from sources believed to be accurate and is intended merely for educational purposes, not as advice.  This recorded posting utilizes AI generated voiceovers. While the Firm strictly prohibits the use of AI for advisory activities constituting investment advice, financial plans, portfolio analysis and management, and reporting, the use of AI for other purposes, such as voiceovers, is permitted and utilized for the firm’s recordings. Hosted on Acast. See acast.com/privacy for more information.

Life's big moments, like marriage and having children, are exciting milestones. These milestones do require thoughtful financial planning. In this episode of Purposeful Planning, we explore essential financial moves for newly married couples and first-time parents. From budgeting and emergency funds to insurance and estate planning, discover how establishing good habits now can create security for decades to come.  Sources:    https://www.aspenwealthmgmt.com/resource-center/blog/different-stages-of-the-financial-journey  https://www.aspenwealthmgmt.com/resource-center/financial-planning/good-financial-habits-for-young-couples https://www.investopedia.com/terms/1/529plan.asp  The opinions voiced in this material are for general information only and are not intended to provide specific advice or recommendations for any individual.    This information has been derived from sources believed to be accurate and is intended merely for educational purposes, not as advice.  This recorded posting utilizes AI generated voiceovers. While the Firm strictly prohibits the use of AI for advisory activities constituting investment advice, financial plans, portfolio analysis and management, and reporting, the use of AI for other purposes, such as voiceovers, is permitted and utilized for the firm’s recordings.  Hosted on Acast. See acast.com/privacy for more information.

We all know compounding can grow our wealth over time, but what about applying this powerful principle to other areas of our lives? In this episode of Purposeful Planning, we explore how the concept of compounding can enhance your knowledge, daily routines, reading habits, physical health, and even your emotional well-being. Discover how small, consistent actions in these areas can lead to remarkable results over time—just like compound interest works with your investments.  Sources:    https://www.aspenwealthmgmt.com/contact-us-fee-only-advisors-fort-worth https://www.aspenwealthmgmt.com/resource-center/lifestyle/compounding-its-not-just-for-finances   The opinions voiced in this material are for general information only and are not intended to provide specific advice or recommendations for any individual.    This information has been derived from sources believed to be accurate and is intended merely for educational purposes, not as advice.  This recorded posting utilizes AI generated voiceovers. While the Firm strictly prohibits the use of AI for advisory activities constituting investment advice, financial plans, portfolio analysis and management, and reporting, the use of AI for other purposes, such as voiceovers, is permitted and utilized for the firm’s recordings.  Hosted on Acast. See acast.com/privacy for more information.

Money talks can make or break relationships, but many couples struggle to find the right balance. In this episode of Purposeful Planning, we explore how couples can build stronger financial communication, understand different money personalities, and create strategies for discussing shared and separate assets. Whether you're newly married or celebrating decades together, these tips can help strengthen both your financial and emotional bonds.  Sources:    https://newsroom.breadfinancial.com/making-cents-of-love-and-money  https://www.investmentnews.com/industry-news/financial-infidelity-credit-card-debt-behind-one-third-of-divorces/249211#:~:text=Financial%20infidelity%2C%20credit%20card%20debt,third%20of%20divorces%20%2D%20Investment%20News https://www.amazon.com/Purposeful-Planning-Aspen-Wealth-Management/dp/B0888121RM/  https://www.aspenwealthmgmt.com/resource-center/financial-planning/financial-communication-tips-for-couples    The opinions voiced in this material are for general information only and are not intended to provide specific advice or recommendations for any individual.    This information has been derived from sources believed to be accurate and is intended merely for educational purposes, not as advice.  This recorded posting utilizes AI generated voiceovers. While the Firm strictly prohibits the use of AI for advisory activities constituting investment advice, financial plans, portfolio analysis and management, and reporting, the use of AI for other purposes, such as voiceovers, is permitted and utilized for the firm’s recordings. Hosted on Acast. See acast.com/privacy for more information.

Is tax efficiency driving your investment decisions? In this episode of Purposeful Planning, we explore how to balance tax minimization with wealth building. From retirement accounts to tax-loss harvesting, discover strategies that can help you maximize after-tax wealth without sacrificing long-term investment growth. Whether you're a seasoned investor or just starting out, these insights will help you make smarter decisions about taxes and your portfolio.  Sources:    https://www.aspenwealthmgmt.com/resource-center/tax/taxes-and-your-investment-profits https://www.aspenwealthmgmt.com/resource-center/blog/tax-wise-investing-team https://www.irs.gov/newsroom/401k-limit-increases-to-23500-for-2025-ira-limit-remains-7000  https://www.healthcare.gov/glossary/high-deductible-health-plan/  https://www.irs.gov/pub/irs-drop/rp-24-25.pdf  https://www.aspenwealthmgmt.com/tax-planning   The opinions voiced in this material are for general information only and are not intended to provide specific advice or recommendations for any individual.    This information has been derived from sources believed to be accurate and is intended merely for educational purposes, not as advice.  This recorded posting utilizes AI generated voiceovers. While the Firm strictly prohibits the use of AI for advisory activities constituting investment advice, financial plans, portfolio analysis and management, and reporting, the use of AI for other purposes, such as voiceovers, is permitted and utilized for the firm’s recordings.  Hosted on Acast. See acast.com/privacy for more information.

When you’ve been diligently saving for your child’s or grandchild’s education, having extra money left in a 529 plan might seem like a good problem to have—but it’s still a problem that needs solving. In this episode, we’re breaking down your options for unused 529 funds, from Roth rollovers to saving for future generations. Tune in to learn how to maximize those savings without taking a tax hit!  Sources:    https://www.aspenwealthmgmt.com/resource-center/blog/your-529-plan-and-secure-2  https://www.aspenwealthmgmt.com/resource-center/blog/financial-gifting-to-grandkids   The opinions voiced in this material are for general information only and are not intended to provide specific advice or recommendations for any individual.    This information has been derived from sources believed to be accurate and is intended merely for educational purposes, not as advice.  This recorded posting utilizes AI generated voiceovers. While the Firm strictly prohibits the use of AI for advisory activities constituting investment advice, financial plans, portfolio analysis and management, and reporting, the use of AI for other purposes, such as voiceovers, is permitted and utilized for the firm’s recordings.  Hosted on Acast. See acast.com/privacy for more information.

As the year wraps up, it’s time to check more than just your holiday gift list. In today’s episode of Purposeful Planning, we’re diving into essential year-end financial tasks to keep your financial journey on track. From revisiting your budget to maximizing retirement contributions and charitable giving, these tips will help you make the most of the remaining days of 2024 and set yourself up for a prosperous new year.  Sources:    https://www.aspenwealthmgmt.com/resource-center/blog/year-end-financial-checklist https://www.aspenwealthmgmt.com/resource-center/blog/year-end-cash-management/ https://www.irs.gov/retirement-plans/plan-participant-employee/retirement-topics-401k-and-profit-sharing-plan-contribution-limits  https://www.healthcare.gov/glossary/health-savings-account-hsa/ https://www.fidelitycharitable.org/guidance/philanthropy/qualified-charitable-distribution.html  https://www.aspenwealthmgmt.com/resource-center/blog/gratitude-and-retirement   The opinions voiced in this material are for general information only and are not intended to provide specific advice or recommendations for any individual.    This information has been derived from sources believed to be accurate and is intended merely for educational purposes, not as advice.  This recorded posting utilizes AI generated voiceovers. While the Firm strictly prohibits the use of AI for advisory activities constituting investment advice, financial plans, portfolio analysis and management, and reporting, the use of AI for other purposes, such as voiceovers, is permitted and utilized for the firm’s recordings.  Hosted on Acast. See acast.com/privacy for more information.

What if being thankful could make your retirement happier, healthier, and even wealthier? In today’s episode of Purposeful Planning, we’re diving into the power of gratitude and how practicing thankfulness can improve your well-being, enhance your financial decisions, and give your retirement a meaningful boost. If you’ve ever wondered how to create a truly fulfilling second act, this conversation is for you.  Sources:    https://dornsife.usc.edu/news/stories/practicing-gratitude-can-improve-your-health-and-well-being/ https://cos.northeastern.edu/news/can-gratitude-reduce-costly-impatience/ https://www.tandfonline.com/doi/full/10.1080/17439760.2018.1497688 https://www.waterstonesl.com/blog/cultivating-gratitude-and-positivity-during-retirement/ https://www.ted.com/talks/susan_pinker_the_secret_to_living_longer_may_be_your_social_life?subtitle=en  https://www.aspenwealthmgmt.com/resource-center/blog/different-stages-of-the-financial-journey https://www.aspenwealthmgmt.com/resource-center/blog/gratitude-and-retirement  The opinions voiced in this material are for general information only and are not intended to provide specific advice or recommendations for any individual.    This information has been derived from sources believed to be accurate and is intended merely for educational purposes, not as advice.  This recorded posting utilizes AI generated voiceovers. While the Firm strictly prohibits the use of AI for advisory activities constituting investment advice, financial plans, portfolio analysis and management, and reporting, the use of AI for other purposes, such as voiceovers, is permitted and utilized for the firm’s recordings.  Hosted on Acast. See acast.com/privacy for more information.

Thinking about ways to set your grandkids up for a brighter future? In this episode of Purposeful Planning, we dive into options for grandparents who want to provide financial support, whether it’s for college, a first home, or even a head start on retirement savings. We’ll explore everything from 529 education plans to custodial Roth IRAs, each with its own benefits and tax advantages. Stay tuned if you’re looking for the best way to leave a financial legacy.  Sources:    https://www.aspenwealthmgmt.com/resource-center/blog/the-gift-that-goes-with-everything-holiday-ideas-for-grandparents/ https://www.aspenwealthmgmt.com/resource-center/blog/financial-gifting-to-grandkids https://www.collegewell.com/private-college-529-plan/#FAQ https://www.investopedia.com/terms/c/coverdellesa.asp#toc-coverdell-education-savings-accounts-vs-529-plans https://www.aspenwealthmgmt.com/contact-us-fee-only-advisors-fort-worth   The opinions voiced in this material are for general information only and are not intended to provide specific advice or recommendations for any individual.    This information has been derived from sources believed to be accurate and is intended merely for educational purposes, not as advice.  This recorded posting utilizes AI generated voiceovers. While the Firm strictly prohibits the use of AI for advisory activities constituting investment advice, financial plans, portfolio analysis and management, and reporting, the use of AI for other purposes, such as voiceovers, is permitted and utilized for the firm’s recordings.  Hosted on Acast. See acast.com/privacy for more information.