Category: GenX

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Podcast image showing the title "Monetary Mixtape" podcast with Will Hoffman
Education Planning Series: How You Can Save for College (Ep. 14)

Education Planning Series: How You Can Save for College (Ep. 14)

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To complete our Education Planning Series, Will Hoffman discusses how you can ensure your child has access to quality education by explaining the various saving plans available. 

In this episode, Will explores three popular options: the 529 plan, the Uniform Gift to Minors Act (UGMA), the Uniform Transfers to Minor Act (UPMA), and the Coverdell Education Savings Account (ESA).

Plus, he shares why it’s crucial to start saving early, and recaps key points from previous episodes in this series. 

Take note as Will explains:

  • Why the 529 plan is an excellent tool for tax-free distributions for educational expenses
  • How the Coverdell ESA functions as a tax-free withdrawal option for qualified education 
  • What a UGMA or UTMA is, and why it’s important to know your state’s law pertaining to gifts and transfers
  • And more

Prior to investing in a 529 Plan investors should consider whether the investor’s or designated beneficiary’s home state offers any state tax or other state benefits such as financial aid, scholarship funds, and protection from creditors that are only available for investments in such state’s qualified tuition program. Withdrawals used for qualified expenses are federally tax free. Tax treatment at the state level may vary. Please consult with your tax advisor before investing.

Resources:

Connect with Will Hoffman: 

About Our Host: 

Will Hoffman is a financial advisor and the Founder of Hoffman Wealth Management, a firm dedicated to helping professionals create wealth plans that revolve around their financial goals. Will has 20 years of experience in the financial services industry and is passionate about becoming his client’s most trusted financial ally. 

Securities offered through LPL Financial, Member FINRA/SIPC. Investment advice offered through Private Advisor Group, a registered investment advisor. Private Advisor Group and Hoffman Wealth Management are separate entities from LPL Financial. All performance referenced is historical and is no guarantee of future results. All indices are unmanaged and may not be invested into directly.

The LPL Financial registered representative(s) associated with this website may discuss and/or transact business only with residents of the states in which they are properly registered or licensed.  No offers may be made or accepted from any resident of any other state.

 

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Education Planning Series: Collegiate Funding Solutions with Roger Lorelle (Ep.13)

Education Planning Series: Collegiate Funding Solutions with Roger Lorelle (Ep.13)

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Are you concerned about the rising cost of college tuition, and how you will afford to send your child for post-secondary education?

Don’t panic just yet! 

In this podcast episode, we chat with Roger Lorelle, President of Collegiate Funding Solutions, about how this state-of-the-art college-planning software combined with support from your financial advisor can help you pay for tuition and continue to save for your retirement. 

Listen as Roger shares:

  • Expert insights and advice on how families can better plan and pay for college 
  • How advisors can leverage the technology of Collegiate Funding Solutions to simplify college planning and maximize savings for their clients
  • Strategic ways to shop for colleges that offer good financial aid packages
  • And more

Resources:

Connect with Roger Lorelle: 

Connect with Will Hoffman: 

About Our Guest: 

Roger founded Collegiate Funding Solutions in 1998 with the mission of helping families save ON and not just for the cost of a college education. CFS launched the first web-based college planning software for financial advisors in 2005, so that advisors could deliver significantly more value to their clients with college-bound children,

helping them to send their children to college without wiping out their retirement savings or incurring suffocating student loan debt.

For over 20 years, CFS has partnered with financial advisors and organizations. CFS provides them with the capability, expertise, education and support necessary to help families save ON, not just for the cost of college and send their children to the right college, for the right reasons and at the right price.

In addition, Roger and his team of subject-matter experts at CFS deliver educational workshops to parents of college-bound children on a variety of college planning, admissions, financial aid and college funding topics.

Roger Lorelle and Collegiate Funding Solutions are not affiliated with or endorsed by LPL Financial, Hoffman Wealth Management, or Private Advisor Group.

About Our Host: 

Will Hoffman is a financial advisor and the Founder of Hoffman Wealth Management, a firm dedicated to helping professionals create wealth plans that revolve around their financial goals. Will has 20 years of experience in the financial services industry and is passionate about becoming his client’s most trusted financial ally. 

Securities offered through LPL Financial, Member FINRA/SIPC. Investment advice offered through Private Advisor Group, a registered investment advisor. Private Advisor Group and Hoffman Wealth Management are separate entities from LPL Financial. All performance referenced is historical and is no guarantee of future results. All indices are unmanaged and may not be invested into directly.

The LPL Financial registered representative(s) associated with this website may discuss and/or transact business only with residents of the states in which they are properly registered or licensed.  No offers may be made or accepted from any resident of any other state.

 

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Education Planning Series: Your Guide to Navigating the FAFSA (Ep. 11)

Education Planning Series: Your Guide to Navigating the FAFSA (Ep. 11)

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Do you need clarification on what a FAFSA is, and how you can receive student aid to help pay for your child’s college education?

Welcome to the first in a series of episodes focusing on Education Planning!

In this episode, Tina Steele, founder of The FAFSA Guru, discusses navigating the process of submitting a FAFSA, and securing your child’s best financial assistance package. She also shares ways to avoid the common mistakes that could cost you thousands, and guides listeners on the ins and outs of the process to ensure you’re getting the most financial aid possible.

Join the conversation as Tina discusses:

  • The importance of filling out the FAFSA form every year 
  • How to avoid common mistakes when filling out the application
  • What additional documents are required by some colleges for eligibility
  • Options surrounding scholarships and government grants
  • And more

Resources:

Connect with Tina Steele:

Connect with Will Hoffman: 

About Our Guest: 

Tina began her career in higher education just out of high school when she landed her  first “real job” working in a financial aid office. She quickly realized that she loved helping students navigate the college planning and financial aid process and achieve their dreams. It also inspired her to get her own Bachelor’s and Master’s degrees. 

Over the last thirty years she has worked directly in the financial aid office at several public and private colleges and she also spent 10 years facilitating college planning and financial aid workshops across the state of Maine for a federally funded grant program aimed at helping disadvantaged students aspire to and pursue college. 

Now as the owner and Founder of The FAFSA Guru Tina guides families through the overwhelming financial aid process. She has a number of programs and services she offers in addition to zoom and phone consultations. She created this business to offer help to families at an affordable price as working with Educational Consultants can cost thousands of dollars. You can learn more by visiting her website at thefafsaguru.com.

Tina Steele and The FAFSA Guru are not affiliated with or endorsed by LPL Financial, Hoffman Wealth Management, or Private Advisor Group.

About Our Host: 

Will Hoffman is a financial advisor and the Founder of Hoffman Wealth Management, a firm dedicated to helping professionals create wealth plans that revolve around their financial goals. Will has 20 years of experience in the financial services industry and is passionate about becoming his client’s most trusted financial ally. 

Securities offered through LPL Financial, Member FINRA/SIPC. Investment advice offered through Private Advisor Group, a registered investment advisor. Private Advisor Group and Hoffman Wealth Management are separate entities from LPL Financial. All performance referenced is historical and is no guarantee of future results. All indices are unmanaged and may not be invested into directly.

The LPL Financial registered representative(s) associated with this website may discuss and/or transact business only with residents of the states in which they are properly registered or licensed.  No offers may be made or accepted from any resident of any other state.

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Tips on Planning Your Taxes with Josh Jones (Ep. 10)

Tips on Planning Your Taxes with Josh Jones (Ep. 10)

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After a challenging year for the market, there are bound to be changes regarding tax season.

Even though you haven’t filed for 2022, now is a good time to know what’s in store for 2023 so you can make adjustments to your portfolio, or save side hustle expense receipts. 

In this week’s edition of the Monetary Mixtape podcast, Josh Jones, President of CompFinO Tax & Accounting Services, joins Will Hoffman to discuss taxes, savings, and sports.

Listen as Josh discusses:

  • Tax changes Gen Xers should be aware of
  • What to claim if you have a side hustle
  • Why you should ask your employer to include a Roth in your 401K
  • And more!

Connect with Josh Jones: 

Connect with Will Hoffman: 

About Our Guest: 

Joshua Jones, CPA is the owner of CompFinO (formally BeanCounters Tax and Accounting Services). CompFinO is a licensed CPA firm and a full-service payroll provider, specializing in tax preparation for small business and individuals. They provide customized solutions for all your accounting needs, such as tax preparation, bookkeeping, bill pay, tax planning, and payroll. Josh, together with his team, have served small businesses and individuals for the past 10 years, and their office is located in Southpointe. Josh received his undergraduate degree from Duquesne University, and has served on the board of the Washington County Habitat for Humanity for the last 6 years, three of those years as Treasurer. 

Joshua Jones and CompFinO are not affiliated with or endorsed by LPL Financial, Hoffman Wealth Management, or Private Advisor Group.

About Our Host: 

Will Hoffman is a financial advisor and the Founder of Hoffman Wealth Management, a firm dedicated to helping professionals create wealth plans that revolve around their financial goals. Will has 20 years of experience in the financial services industry and is passionate about becoming his client’s most trusted financial ally. 

Securities offered through LPL Financial, Member FINRA/SIPC. Investment advice offered through Private Advisor Group, a registered investment advisor. Private Advisor Group and Hoffman Wealth Management are separate entities from LPL Financial. All performance referenced is historical and is no guarantee of future results. All indices are unmanaged and may not be invested into directly.

This information is not intended to be a substitute for specific individualized tax advice. We suggest that you discuss your specific tax issues with a qualified tax advisor.

The LPL Financial registered representative(s) associated with this website may discuss and/or transact business only with residents of the states in which they are properly registered or licensed.  No offers may be made or accepted from any resident of any other state.

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Stepping into 2023 with Jeffery Roach from LPL Financial (Ep. 9)

Stepping into 2023 with Jeffery Roach from LPL Financial (Ep. 9)

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Remember back in high school and how boring Economics class was? As teenagers we just didn’t care about the ups and downs, or twists and turns of the economy. But now, as a Gen Xer, we have more interest because we are more invested.

Join Will and his guest Jeffrey Roach, Ph.D. Chief Economist at LPL Financial to discuss the economic landscape in 2022, and what is on the horizon for 2023. 

Listen as Jeff discusses:

  • What Gen Xers spend most of their annual total spending on
  • Highlights from the LPL Financial Outlook 
  • How the Feds are preparing for the recession, and what you can do
  • And more 

 Resources:

 Connect with Jeffrey Roach:

 Connect with Will Hoffman: 

About Our Guest: 

Jeffrey Roach is a financial economist with a background in capital markets, global macroeconomic research and portfolio management. Jeff started out in the Bank of America trading floor where he advised traders on what was happening in the markets and why, to an asset management firm where he helps shape investing decisions by evaluating and forecasting market trends, consumer behavior, and global risk. Jeff enjoys speaking about economics to a wide range of audiences. Jeffrey is currently the chief economist at LPL Financial.

About Our Host: 

Will Hoffman is a financial advisor and the Founder of Hoffman Wealth Management, a firm dedicated to helping professionals create wealth plans that revolve around their financial goals. Will has 20 years of experience in the financial services industry and is passionate about becoming his client’s most trusted financial ally. 

Securities offered through LPL Financial, Member FINRA/SIPC. Investment advice offered through Private Advisor Group, a registered investment advisor. Private Advisor Group and Hoffman Wealth Management are separate entities from LPL Financial. All performance referenced is historical and is no guarantee of future results. All indices are unmanaged and may not be invested into directly.

The LPL Financial registered representative(s) associated with this website may discuss and/or transact business only with residents of the states in which they are properly registered or licensed.  No offers may be made or accepted from any resident of any other state.

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