It’s that time of year: the kids are sad, and the moms are glad. Again. The sweet Vermont summer is over and school’s back in. We find this transition gets a lot of parents thinking about how they’re going to pay for their kid’s college education.
The internet loves a list, so here you go, our top ten list, in order of priority. Sort of.
August is a jewel of a month in Vermont. While most would argue there isn’t a bad summer month to experience here, August is particularly sweet. It’s also “vacation month,” and there’s no place better to enjoy the lazy days of summer than by Lake Champlain. Another great thing about August? It’s the perfect time to start prepping your taxes.
Recently, a close friend told me she felt like she was trying to push the river. It was the first and only time I can recall anyone using the term, and it has stuck with me since. It comes to mind when I hear people talk about protectionist policies intended to stem globalism and close borders.
When I tell clients they need to increase their reserves, I often hear things like “Well, how much do I need to keep there doing nothing?” or “I’d rather pay off my mortgage/student loan/car loan than leave all that money there doing nothing.”
I met with a prospective client recently who had an account full of actively managed mutual funds. When I pointed out what they were paying in fees, some of which were buried in the statements and difficult to spot, I asked what they thought they got for those fees.
There are two major economic trends that have been unfolding for almost forty years now, and both are nearing a turning point. Interest rates and tax rates have been declining since the early 1980s and both must go up at some point. I’ve been telling our clients that tax and interest rates are going to go up for so long now I sound like a nut job. But sooner or later, every prognosticator is right.
I met with a personal trainer this morning who told me I need to work smarter, not harder. I’d been doing hour-long weight lifting and aerobic workouts five days a week, which poses greater injury risk and, potentially, long-term heart damage. He told me I could achieve a higher fitness level, reduce injuries, and just be healthier by working out less, and modifying other detracting behaviors.
Autumn is a time for us to reflect back on the days of summer, and for the kids to go back to school. This is a post about both.
Congress is preparing to debate the budget deal that includes the tax reform proposed by the current administration, so I thought I’d chime in with my opinion of where this might go. In a nutshell, nowhere.