Companies are doubling down on ESG. As the sector grows in complexity, MIT Sloan investment expert Gita Rao details four issues that warrant a closer look.
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Editors Note: This column is part three of our series on the intersection of financial advice and different cultures, historical backgrounds and identities. Morningstar Office clients can find more Morningstar DEI research and commentary here.
Because I focus on financial planning for the LGBTQ community, I often get the question, “what makes LGBTQ planning different?’”
Behind this question, there may be the thought that it has been almost six years since
Obergefell v. Hodges made marriage equality the law of the land. Additionally, last summer the U.S. Supreme Court ruled that employers couldn’t discriminate against their LGBTQ employees. So, everyone is pretty much on equal footing, right? Not quite.
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by Tom Konrad Ph.D., CFA
The most popular way we have to save for our children’s future education is destroying their future.
A 529 savings plan is a tax-advantaged savings plan designed to help pay for education. There are also prepaid tuition plans set up under the section 529 tax rules, but this article is focused on 529 savings plans, and will be what I mean by “529 plans” for the rest of the article.
The money in 529 plans can be used for college as well as K-12 education, apprenticeship programs, and paying off some student debt. Savings plans grow tax-deferred, and withdrawals are tax-free if they’re used for qualified education expenses. Each state (and DC) has its own 529 plan, but you don’t have to live in a state to participate. Many states offer additional tax benefits to local residents.