Creating Financial Stability Across Every Stage of Your Life
SAVINGS: YOUR FINANCIAL PLAN STARTS HERE
OUR FIRST STEP IS ENSURING PEACE OF MIND
At W. McKinley & Associates, savings is the first tier of our approach: covering your short-term needs. We view your savings as the bedrock that lets you weather any financial storm, such as layoffs or serious illnesses. It’s your critical near-term cushion, as well as a secure path to preparing for large life expenses such as college.
Do you know if you have enough savings to protect your family from life’s surprises? Or, perhaps you have too much of your hard-earned money tied up in low-return savings accounts where it isn’t growing. What’s the right mix?
We don’t believe in a blanket, “one-size-fits-all” approach to savings. There’s no magic number that we preach to everyone. First, we work to understand your income, expenses, and lifestyle to help find the right balance for your unique situation. Then, we coach you through the choices that help you achieve that balance, so you’re always covered, no matter what life throws your way.
OUR SAVINGS SERVICE OFFERINGS:
- CASHFLOW PROJECTIONS: We’ll assess your income and expenses to help predict how much money you have available to get you through life’s ups and downs.
- 529 COLLEGE PLANS: Take advantage of tax incentives with a savings plan that covers education costs for your children or yourself.
Once we get your savings optimized for your lifestyle, we progress onto investing to set you up to achieve future goals such as a new home. We’ll also focus on preparing you for retirement.
A 529 plan is a college savings plan that allows individuals to save for college on a tax-advantaged basis. Every state offers at least one 529 plan. Whether a state tax deduction and/or application fee savings are available depends on your state of residence. For information concerning 529 plans, including information comparing the performance of difference states’ 529 plans, contact your financial professional. Before investing in a 529 plan, you should find out about the particular plan and its fees and expenses. Investors should consider the investment objectives, risks, charges and expenses associated with municipal fund securities before investing. This information is found in the issuer’s official statement and should be read carefully before investing.Investors should also consider whether the investor’s or beneficiary’s home state offers any state tax or other benefits available only from that state’s 529 Plan. Any state-based benefit should be one of many appropriately weighted factors in making an investment decision. The investor should consult their financial or tax advisor before investing in any state’s 529 Plan. For additional information concerning 529 plans, FINRA offers several valuable online tools: a comprehensive online learning center, Saving for College, which includes a Mutual Fund Expense Analyzer. The SEC’s Office of Investor Education and Advocacy also provides information concerning 529 plans at: https://www.sec.gov/reportspubs/investor-publications/investorpubsintro529htm.html.