Ultimate Account Blog

Follow Sensible Guidelines When Borrowing From Your 401(k)

If you need cash for an emergency, you might turn to your 401(k) plan. When you take a loan from a plan, you borrow money from your own account, pay yourself back with interest and continue making contributions at the same time. Assuming…

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There’s No Such Thing as a No-Cost Mortgage

When interest rates are on the low side, you probably wonder whether it’s time to refinance your old mortgage. Generally, refinancing does save money. But don’t rush into it — you need to make a few calculations first. It’s hard to come up with a calculation that fits everyone.…

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Life Insurance Needs Change in Retirement

Every stage of life has its own distinctive financial planning and insurance needs. Retirement is no different. If your life insurance policy hasn’t changed in 20 years, the coverage it provides may no longer be well-suited to your stage in life. That doesn’t mean you should drop the coverage,…

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529 College Savings Plans Are Worth a Close Look

Q. It’s time for us to begin saving for our child’s education. We’ve heard a great deal about Section 529 college savings plans. What are the advantages? A. The advantages can be significant. Sec. 529 plans include both prepaid tuition programs and college savings plans. Because you mentioned the latter…

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Preparing a Personal Financial Statement – A Snapshot of Your Financial Net Worth

Understanding your financial health is important as you navigate such life decisions as applying for credit for a loan or mortgage or as you undertake retirement and estate planning. To help in that process you can prepare a personal financial statement – a document that presents a snapshot of…

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A Letter to Walz Group Clients and Friends About the Current Federal Tax Proposal

Like the Walz Group team, many of you have been tracking the various budgetary, taxing, and spending negotiations through Congress over the past few months. Earlier this week, we saw the most tangible framework yet for what a change to the tax law could yield. It is important to…

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Handle With Care: Your Inheritance

After receiving an inheritance, you need to determine how to incorporate those assets — whether cash, stocks, bonds, real estate or some other asset — into your finances. Consider these points during the process: Determine what you’ll receive and when. Inheritances typically don’t come in the form of one…

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20 FAQs About RMDs

After a one-year hiatus due to the COVID-19 pandemic, owners of qualified retirement plans and IRAs must adhere to the rules for required minimum distributions (RMDs). The RMD rules are tricky and could result in a substantial tax penalty if you’re not careful. For starters, an RMD is the amount…

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Consider a New Approach to Meeting Your Business Real Estate Needs

Where your business is located, and how you use the commercial space that you have, can mean the difference between thriving and just limping along — or worse. That fact was brought home for many business owners during the COVID-19 pandemic, when lease payments became a big financial strain,…

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Resolve Customer Billing Disputes Promptly

Every business has its share of slow-paying customers and plain old bad apples who won’t settle up without making a fuss. During the coronavirus (COVID-19) crisis, this is likely to be more true than ever. Still, some companies always seem to be embroiled in lengthy and counterproductive billing disputes with…

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