Welcome back to another edition of Women and Wealth! This week, Regina is coming at you with lots of tips for parents using the 529 plan to pay for college – as well as how you (actually) use the 529 to pay for college.

Additionally, Regina shares her own experience using the 529, how she’s deployed it and what she’s learned along the way.

With tuition bills just around the corner, this episode is a necessary refresher to make sure that your 529 (and your plan) is primed for success.

Episode Highlights:

0:00 - Introduction

0:32 - Episode beginning, 529 plans

2:25 - 529 plan earnings, how are they invested?

5:09 - How account owners have control

9:01 - 529 plans owned by grandparents

11:07 - Withdrawals are free from federal taxes IF..

13:05 - What is a non-qualified withdrawal?

14:40 - How do we pay using the 529?

19:32 - IRS Form 1099-Q
23:25 - Call to Action

ABOUT REGINA MCCANN HESS

Regina is the author of Super Woman Wealth: How to Become Your Own Financial Hero. As an advocate for women’s financial freedom, she wrote this book to help empower women to take a bigger role in handling their money.

Regina has appeared on Schwab TV, Yahoo Finance, Forbes.com, NTD Television, CBS 3 Philadelphia, Fox 29 Philadelphia, King 5 Seattle, KTLA 5 Los Angeles and Scripps News. She has also been quoted in numerous articles in publications such as Forbes, Business Insider, U.S. News & World Report, Yahoo Finance, USA Today, USA Wire, Word in Black, WTOP News, Mind Body Green, Money Digest, New York Post, Defender, Authority Magazine, GoBankingRates.com, Scripps and The Muse.

As Founder of Forge Wealth Management, Regina utilizes her 25+ years of financial services experience to help individuals plan, preserve and diversify their wealth. She focuses on educating her clients while building long-term relationships with them and their families. Her experience throughout major shifts in the markets, enables Regina to structure balanced portfolios to address specific financial goals.

CONNECT WITH REGINA

Website: https://www.forgewealth.com

LinkedIn: https://www.linkedin.com/in/reginamccannhess/

Facebook: https://www.facebook.com/ForgeWealth

Instagram: https://www.instagram.com/forgewealthmanagement/

YouTube: https://www.youtube.com/@ForgeWealth

Email: reginahess@forgewealth.com

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. Non-qualified withdrawals may result in federal income tax and a 10% federal tax penalty on earnings. Tax treatment at the state level may vary. Please consult with your tax advisor before investing.

Welcome back to another edition of Women and Wealth – this week, Regina invites Erika Rasure on the show to explore the dreaded “d” word:

Debt.

It’s something nobody wants to be in – or have to deal with. Add on the shame and social stigma that can come with it, and you have a recipe for a seriously negative experience.

Erika is the Chief Financial Wellness Advisor at Beyond Finance and her life’s work is helping people climb out of debt and build towards financial freedom. Her approach to the behavior and psychology behind money, debt and everything it encompasses – stands in stark contrast to many experts today.

Together, Regina and Erika discuss her background, how she developed her skills in debt remediation, what exactly makes her different and why she does what she does. They also talk about her experiences as a professional woman as well as the struggles they both deal with in expanding financial literacy for everyday people.

Episode Highlights:

0:00 - Introduction

0:31 - Episode beginning, meeting Dr. Rasure

3:57 - Shame, lack of education and talking about it

7:30 - How Erika starts with her clients

11:31 - Getting help and the real costs of debt

13:55 - “Figuring out” money

17:09 - Where you can learn more about Erika

17:48 - Struggles Erika faced as a professional woman

21:00 - Erika’s vision of retirement

25:03 - Action item

26:35 - Episode wrap-up

ABOUT REGINA MCCANN HESS

Regina is the author of Super Woman Wealth: How to Become Your Own Financial Hero. As an advocate for women’s financial freedom, she wrote this book to help empower women to take a bigger role in handling their money.

Regina has appeared on Schwab TV, Yahoo Finance, Forbes.com, NTD Television, CBS 3 Philadelphia, Fox 29 Philadelphia, King 5 Seattle, KTLA 5 Los Angeles and Scripps News. She has also been quoted in numerous articles in publications such as Forbes, Business Insider, U.S. News & World Report, Yahoo Finance, USA Today, USA Wire, Word in Black, WTOP News, Mind Body Green, Money Digest, New York Post, Defender, Authority Magazine, GoBankingRates.com, Scripps and The Muse.

As Founder of Forge Wealth Management, Regina utilizes her 25+ years of financial services experience to help individuals plan, preserve and diversify their wealth. She focuses on educating her clients while building long-term relationships with them and their families. Her experience throughout major shifts in the markets, enables Regina to structure balanced portfolios to address specific financial goals.

CONNECT WITH REGINA

Website: https://www.forgewealth.com

LinkedIn: https://www.linkedin.com/in/reginamccannhess/

Facebook: https://www.facebook.com/ForgeWealth

Instagram: https://www.instagram.com/forgewealthmanagement/

YouTube: https://www.youtube.com/@ForgeWealth

Email: reginahess@forgewealth.com

CONNECT WITH ERIKA RASURE

Website: https://www.beyondfinance.com/

LinkedIn: https://www.linkedin.com/in/erikarasure/

Securities offered through LPL Financial, Member FINRA/SIPC www.finra.org, www.sipc.org

Third-party posts found on this profile do not reflect the view of LPL Financial and have not been reviewed by LPL Financial as to accuracy or completeness.

For a list of states in which I am registered to do business, please visit www.forgewealth.com.

This material was prepared by MFS Investment Management. MFS Investment Management is not affiliated with Forge Wealth Management, Private Advisor Group, or LPL Financial.

This week on Women and Wealth, host Regina Hess returns to a vital topic: Social Security. But this time, she’s breaking it down into 10 essential facts everyone should know before claiming benefits.

Whether you’re approaching retirement or helping a loved one navigate the system, this episode will help you better understand how to make the most of what you’ve earned.

It’s no secret that it can be complex from the outside looking in – with so many considerations surrounding the benefits themselves, from when you take them and how you execute that, to understanding what you may be entitled to as you approach retirement.

This episode is designed to empower you with clarity and confidence as you plan your financial future so you can navigate this system with ease.

Episode Highlights:

0:00 - Introduction

0:31 - Episode beginning

1:05 - Things to keep in mind before claiming SS

1:38 - Changes to your status can have an impact on your benefit amount

2:02 - The year of your birth and..
3:35 - Taking SS while working

6:15 - Benefits paid to you as a spouse

7:09 - Zooming in on your spousal benefit

8:58 - If something happens to you..

9:51 - Your benefits may be taxable

11:57 - Be aware of certain types of income

13:22 - Your SS statement is an estimate

15:16 - Action item

16:30 - Episode wrap-up

ABOUT REGINA MCCANN HESS

Regina is the author of Super Woman Wealth: How to Become Your Own Financial Hero. As an advocate for women’s financial freedom, she wrote this book to help empower women to take a bigger role in handling their money.

Regina has appeared on Schwab TV, Yahoo Finance, Forbes.com, NTD Television, CBS 3 Philadelphia, Fox 29 Philadelphia, King 5 Seattle, KTLA 5 Los Angeles and Scripps News. She has also been quoted in numerous articles in publications such as Forbes, Business Insider, U.S. News & World Report, Yahoo Finance, USA Today, USA Wire, Word in Black, WTOP News, Mind Body Green, Money Digest, New York Post, Defender, Authority Magazine, GoBankingRates.com, Scripps and The Muse.

As Founder of Forge Wealth Management, Regina utilizes her 25+ years of financial services experience to help individuals plan, preserve and diversify their wealth. She focuses on educating her clients while building long-term relationships with them and their families. Her experience throughout major shifts in the markets, enables Regina to structure balanced portfolios to address specific financial goals.

CONNECT WITH REGINA

Website: https://www.forgewealth.com

LinkedIn: https://www.linkedin.com/in/reginamccannhess/

Facebook: https://www.facebook.com/ForgeWealth

Instagram: https://www.instagram.com/forgewealthmanagement/

YouTube: https://www.youtube.com/@ForgeWealth

Email: reginahess@forgewealth.com

Securities offered through LPL Financial, Member FINRA/SIPC www.finra.org, www.sipc.org

Third-party posts found on this profile do not reflect the view of LPL Financial and have not been reviewed by LPL Financial as to accuracy or completeness.

For a list of states in which I am registered to do business, please visit www.forgewealth.com.

This material was prepared by MFS Investment Management. MFS Investment Management is not affiliated with Forge Wealth Management, Private Advisor Group, or LPL Financial.