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Traditional vs. Roth IRA

Traditional vs. Roth IRA Traditional Individual Retirement Accounts (IRA), which were created in 1974, are owned by roughly 36.6 million U.S. households. And Roth IRAs, created as part of the Taxpayer Relief Act in 1997, are owned by nearly 27.3 million households.1 Both are IRAs. And yet, each is quite different. Up to certain limits, traditional IRAs allow individuals to make tax-deductible contributions into their account(s). Distributions from traditional IRAs are taxed as ordinary income, and if taken before age [...]

By |2022-11-17T11:16:33-05:00November 17th, 2022|IRA, Retirement|Comments Off on Traditional vs. Roth IRA
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What to Know About the 529 Grandparent Loophole

What to Know About the 529 Grandparent Loophole Jess Ullrich Wed, October 5, 2022 at 9:00 AM How the 529 Grandparent Loophole Works A 529 plan can be a powerful way to save for college, offering tax-free growth and other tax benefits. These accounts are so powerful, in fact, that many grandparents choose to open them for their grandchildren. In the past, there was a downside to a grandparent 529, though. Distributions from these accounts were included on the Free [...]

By |2022-10-07T11:56:22-04:00October 7th, 2022|College Savings|Comments Off on What to Know About the 529 Grandparent Loophole
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This Is Not What a Recession Looks Like

This is not what a recession looks like Signs of economic growth are everywhere, says Jurrien Timmer. BY JURRIEN TIMMER, DIRECTOR OF GLOBAL MACRO FOR FIDELITY MANAGEMENT & RESEARCH COMPANY (FMRCO), 07/28/2022 Key takeaways Although there's a sense of dread in the air that a recession is imminent, this sentiment isn't necessarily a reflection of the economic reality. Unemployment is low, consumers are spending money, and earnings continue to grow—all of which are positive economic signs. Earnings reports, which can [...]

By |2022-08-05T11:35:17-04:00August 5th, 2022|Business/Economic News|Comments Off on This Is Not What a Recession Looks Like
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Thank you to Salmon Falls Photography in Plymouth for use of their lovely photo in our header!

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Disclaimer

Registered Representative, Securities offered through Cambridge Investment Research, Inc., a Broker/Dealer, Member FINRA/SIPC. Investment Advisor Representative, Cambridge Investment Research Advisors, Inc., a Registered Investment Advisor. Cambridge and North Light Financial Services are not affiliated. Cambridge does not offer tax advice. Office of Supervisory Jurisdiction: 46 Accord Park Drive / Norwell, MA 02061 Phone: 781-878-4063 Due to various state regulations and registration requirements concerning the dissemination of information regarding investment products and services, we are currently required to limit access of the following pages to individuals residing in states where we are currently registered: CA, FL, GA, HI, KY, IL, LA, MA, ME, NC, NE, NM, OR, RI, SC, TX, VT, WV. If we are not currently registered in your state please email us at info@northlightfinancialservices.com. We may be able to refer you to a representative in your area, or we may become registered in your state, at which time we could further discuss our services with you.

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