September 2022 – NEWSLETTER
Helping people intentionally design their wealth in a way that shapes their most inspired life.
529 Plans – Which Education Expenses are Considered Qualified?
September is traditionally back to school month, and whether your child is K-12 or attending college, it can mean big expenses for parents.
529 plans are valuable education savings tools – they allow you to invest after-tax dollars in an account that will grow tax-deferred and can be distributed tax-free for qualified expenses. However, it’s important to understand which expenses are qualified and which ones aren’t. Click here to find out more.
WHAT YOU’LL FIND INSIDE:
- 529 PLANS – WHICH EDUCATION EXPENSES ARE CONSIDERED QUALIFIED?
- JOE THE SHOW CONCERT
- 401k INVESTING
- WHO IS RAYMOND JAMES?
- A BRIEF HISTORY OF LABOR DAY
Joe the Show
We are honored to have such great clients and hope you enjoyed the evening as much as we did!
How Are 401(k) Plan Participants Investing Their Money?
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Who Is “Raymond James”?
Raymond – Edward Raymond – was a lawyer and financial planner who ran his own 15-employee mutual fund sales group, Raymond and Associates, in Bradenton, Sarasota and in other cities and towns across Florida’s west coast. Wanting to retire, Raymond sold his company to Bob James on July 15, 1964, with the agreement that James would change the name of the surviving firm to Raymond, James & Associates.
Three days after the sale, Ed Raymond was involved in a near-fatal automobile accident, from which no one expected him to recover. A year and half later, Ed had in fact recovered, but he never rejoined the firm. Nonetheless, even after Ed passed away, Bob James insisted that the “Raymond” name remain on the door – ahead of James’ own. That was a promise he had made to Ed three days before the accident, and Bob James was a man who kept his promises.
A Brief History of Labor Day
The first Labor Day in the U.S. was celebrated on September 5, 1882, in New York City. Some say the holiday was founded by Peter J. McGuire, the general secretary of the Brotherhood of Carpenters and Joiners and a co-founder of the American Federation of Labor. Others suggest it was actually proposed by the similarly surnamed Matthew Maguire, a machinist who was serving as secretary of the Central Labor Union at the time. It was the latter organization that agreed to celebrate it.
Two years later, Labor Day was moved to the first Monday of September by the New York Central Labor Union. In 1894, President Grover Cleveland and Congress officially declared Labor Day a national holiday.
Don Hershberger, CFP®, AIF®, CRC®, Founder and President, PWM, was named on the 2022 Forbes Best-in-State Wealth Advisor list.
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Investment advisory services are offered through Raymond James Financial Services Advisors, Inc. Paramount Wealth Management is not a registered broker/dealer and is independent of Raymond James Financial Services.
The Forbes ranking of Best-In-State Wealth Advisors, developed by SHOOK Research, is based on an algorithm of qualitative criteria, mostly gained through telephone and in-person due diligence interviews, and quantitative data. Those advisors that are considered have a minimum of seven years of experience, and the algorithm weights factors like revenue trends, assets under management, compliance records, industry experience and those that encompass best practices in their practices and approach to working with clients. Portfolio performance is not a criteria due to varying client objectives and lack of audited data. Out of approximately 34,925 nominations, more than 6,550 advisors received the award. This ranking is not indicative of an advisor’s future performance, is not an endorsement, and may not be representative of individual clients’ experience. Neither Raymond James nor any of its Financial Advisors or RIA firms pay a fee in exchange for this award/rating. Raymond James is not affiliated with Forbes or Shook Research, LLC. Please visit https://www.forbes.com/best-in-state-wealth-advisors for more info.
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