Wealth Management Center

Preserving and enhancing wealth for the future with financial-planning experts Bill Cass and Chris Hennessey


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From dreaming to living: What you need to know about retiring abroad

July 17, 2024  |  Retirement/Income

As the number of Americans retiring in other countries continues to grow, here are five considerations for individuals planning to retire abroad.

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From dreaming to living: What you need to know about retiring abroad
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November 9, 2023

Top year-end planning considerations

Bill Cass, CFP®, CPWA®, Director Wealth Management Programs at Putnam
Chris Hennessey, Lawyer and CPA, Putnam Business Advisory Group

Planning moves to take the sting out of the 3.8% surtax

Planning moves to take the sting out of the 3.8% surtax

A rising number of US taxpayers are subject to an investment income surtax, introduced a decade ago in federal legislation. Here are some strategies that may help mitigate the impact of the tax.

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Reasons why a grandparent-owned 529 plan may make sense

Reasons why a grandparent-owned 529 plan may make sense

Grandparents may want to explore funding a 529 plan for their grandchildren. Here are some considerations such as the impact on estate plans and student aid.

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Decision made: Why 529 plans are a popular choice for education savings

Decision made: Why 529 plans are a popular choice for education savings

For families saving for college, 529 plans remain popular. Here are some key facts about 529 plans.

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IRS allowing heirs to skip RMDs in 2024

IRS allowing heirs to skip RMDs in 2024

Heirs with inherited retirement accounts can skip taking RMDs this year without penalty under IRS guidance.

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Consider a reset of college savings with a 529 plan

Consider a reset of college savings with a 529 plan

Considering the broader tax benefits, 529 plans may be a more tax-efficient way to save for college than custodial accounts.

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Consider tax planning beyond the filing season

Consider tax planning beyond the filing season

With tax season over, some taxpayers may want to forget about taxes until next year but there may be advantages to focusing on taxes beyond the filing season.

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Harnessing the power of step-up in cost basis

Harnessing the power of step-up in cost basis

For those looking to efficiently transfer wealth, here are some considerations and strategies when planning for step-up in cost basis.

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Deciding how to pass wealth to heirs

Deciding how to pass wealth to heirs

Potential changes in estate and gift tax laws are causing some individuals to review plans and choose how to pass wealth to beneficiaries.

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Consider the options before taking action on company stock

Consider the options before taking action on company stock

For individuals considering a distribution or rollover it is important to understand the options around company stock in a retirement plan.

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Taxes in retirement may surprise retirees

Taxes in retirement may surprise retirees

Individuals saving for retirement may overlook state taxes which can mean a larger tax bill in retirement than expected.

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Current administration eyes tax hikes for high earners

Current administration eyes tax hikes for high earners

Treasury report offers a look at potential policy items such as tax hikes that could be proposed in the future.

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State mandates drive business owners to explore retirement plans

State mandates drive business owners to explore retirement plans

With more states requiring workplace savings plans it may be an opportune time for businesses to establish their own retirement plans now.

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Growing number of single households face unique challenges

Growing number of single households face unique challenges

Without additional resources single households may be more vulnerable to financial shortfalls, making financial planning particularly important.

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Looking beyond the basics of HSAs

Looking beyond the basics of HSAs

In order to take advantage of the tax benefits, it is important to take a deeper look at HSAs and understand how they work.

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Ten income and estate tax planning ideas for 2024

Ten income and estate tax planning ideas for 2024

Taxpayers may want to consider these income and estate tax planning strategies to save more and try to reduce taxes.

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Tax season planning under the TCJA

A new perspective on tax deductions

Optimize the small-business tax deduction

Estate planning considerations before the law sunsets

New strategies emerge for Roth conversions

Tax rates lowered, deductions limited in tax law

The tax reform law lowers tax rates and imposes new limits on many deductions.

Many deductions changed in new tax law

The standard deduction doubles while some popular tax deductions are limited or eliminated by tax reform.

Estate planning remains vital

Despite higher exclusion levels for federal estate taxes, estate planning remains vital for taxpayers.

Tax reform creates new deduction for small businesses

Understanding the new 20% deduction for business income is key for small business owners.

New tax law influences individual planning

Individuals may consider various strategies for charitable giving and financial planning in the new tax environment.

$30T in wealth transfer creates opportunity

Advisors may consider expanding their value proposition and professional network to grow their business.

Top strategies for advisors when heirs inherit wealth

Learning about an investor's family can help advisors connect with the next generation.

Social strategies for meeting the next generation

Start with social media and expand to social events to reach out to the next generation of clients.

Use family meetings for more effective wealth transfer

Hosting a family meeting can help investors and their children focus on values, planning issues, and philanthropy.

College savings plans offer tax advantages

Explore tax-advantaged savings when planning for college.

Chris Hennessey is Professor Emeritus of Law at the Babson College School of Executive Education and member of the Putnam Investments Business Advisory Group. His opinions do not necessarily reflect those of Putnam Investments.