About Colin Domonoske

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So far Colin Domonoske has created 9 blog entries.

529s – College Savings Advice for High-Net-Worth Investors

By |2022-09-01T08:20:25-08:00November 15th, 2021|Wealth Management Resources|

Time to Read: 10 Minutes Section 529 plans are arguably the best college savings vehicle around. In this article, we will cover what 529 plans are, why they make such great college savings accounts, and how high net worth investors can take advantage of 529 plans for their estate planning tax benefits.  Introduction to 529 Plans 

The Federal Reserve: That thing you always hear in the news but know very little about

By |2021-10-25T12:27:09-08:00October 22nd, 2021|Wealth Management Resources|

Time to Read: 9 Minutes If you follow the economy in the news – and sometimes even if you don’t - you may have heard terms like “the Federal Reserve”, “Chairman Powell”, “transitory”, and “tapering”. Reporting on these terms is often followed by prognostications on how the markets may or may not react to

Mega Backdoor Roth 401(k) – Retirement Savings Strategies for High Earners

By |2022-09-01T08:21:48-08:00September 2nd, 2021|Wealth Management Resources|

Time to Read: 7 Minutes Maximizing retirement savings and devising strategies to keep taxes low are the cornerstones of building wealth. But with relatively low limits on 401(k) savings, how should high earners invest excess cash? There’s an extremely productive strategy that can turn your 401(k) into a vehicle for saving above the income limits and creating tax-free distributions

Four Things to Know About Your 401(k)

By |2021-10-13T11:56:08-08:00August 26th, 2021|Wealth Management Resources|

Time to Read: 3 Minutes Consistently saving into a 401(k) plan during your working years is the foundation of a successful retirement plan. The process is usually quite simple, and an additional benefit can be a 401(k) match offered by an employer, which essentially amounts to free money, once you’ve met the threshold to qualify.   There are some

Credit Scores: The Elephant in the Bank – Credit Advice for Wealthy Investors

By |2021-10-13T12:08:54-08:00June 3rd, 2021|Wealth Management Resources|

Time to Read: 7 minutes Building and maintaining good credit is critical to financial success, whether you’re just getting started or have already accrued wealth. However, we’ve noticed that high-income earners tend to pay less attention to their credit as their net worth grows because they often make more purchases with cash and have

Roth Conversion: A Better Way to IRA

By |2021-11-23T19:40:24-08:00September 2nd, 2020|Wealth Management Resources|

Time to Read:7 Minutes Roth IRAs are known for their tax-free growth and withdrawals; however, high earners and retirees regularly overlook these dream savings accounts because they have income limits that, on the surface, prevent them from participating. At BWM Financial (BWM), we think that Roth conversions are an effective, alternative way to save

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