Money Matters – The El Paso Star

Smart Saving

A college education can be the gift of a lifetime.

In today’s world, a college education is a critical – yet costly – component of financial well-being. The price of tuition, housing, books, and food is only going up, and for the many students, a college degree comes with years of student debt. Saving for the college education of a child or grandchild through tax-advantage 529 plan can help future generations get a head start in life.

As a parent, have you ever thought to yourself that your kids have too many toys? Toys that they only play with for a moment and then discard? Instead of buying them something that could get lost, broken, or they’ll outgrow, consider giving them the gift of education instead. A 529 plan is a great way to save for their future education. This tax advantaged plan allows you to put money away and let it grow tax-deferred. As long as these funds are used for educational purposes, the distribution will be tax-free. Since anyone can contribute to the account, this is a lasting gift a grandparent or any family member can give for holidays and birthdays. Instead of the toy they will outgrow, give them a gift that will help them further their education and lay the groundwork for their future stability. How are you planning for a bright future for you children?

We can help you plan and determine what your child will need to attend college in the future. For further information, give us a call at 915-534-4006 or visit our website at heritagepremierfinancial.com.

Charitable Giving

No matter what traditions you hold around the holiday season, there is one we can all share: The importance of giving to those less fortunate than ourselves. According to Giving USA, Americans gave $410 billion to charity for the first time ever in 2017, with individual giving contributing 70% – or $287 billion – of this record-breaking amount.

Charitable giving can be one of the most satisfying aspects of a financial plan. Not only do you enjoy its feel-good aspect, but your taxes may benefit and a charity that is furthering your cause gets the resources it needs. Here are a few websites to make sure your chosen charity is doing what it says it’ll do with your donations:

•Guidestar.org contains records from 2.7 million nonprofits registered with the IRS, with access to each organization’s Form 990, a document that details nonprofits’ income, spending, mission and executive salaries.

•The Better Business Bureau Wise Giving Alliance generates free reviews of more than 1,300 charities. Local BBB websites provide evaluations on an additional 10,000 nonprofits.

•CharityNavigator.org provides ratings, with four stars being the highest, of the charities it follows. They base their ratings on financial health, accountability and transparency.

As you may know, volunteering is one of the best ways to understand how a charity works. Not only will this help you gain an insider’s view of the organization’s people, practices and impact – you’ll also be able to feel confident knowing your time and money can truly make a difference. If there’s a nonprofit you’re interested in, consider taking your loved ones with you to volunteer and creating a charitable family tradition you can pass down through generations. You may get to see firsthand the power of your charitable gift at work.

For further information, give us a call at 915-534-4006 or visit our website at
HeritagePremierFinancial.com.

Kristy McGee, CRPC®

Senior Vice President, Investments

Senior Portfolio Manager

Jennifer Dayoub, AAMS®

Financial Advisor

Raymond James & Associates Member New York Exchange/SIPC

4503 N. Mesa El Paso, TX 79912

Let the Heritage Group be a part of your financial solution.

Money Matters - Smart Saving

Smart Saving

A college education can be the gift of a lifetime.

Money Matters - Charitable Giving

Charitable Giving