Whether you’re at the stage in your life where you have a work-optional lifestyle, or just have a green thumb and time to garden on the weekend, it’s time to plan and plant. At Garden State Trust Company, we believe there are many parallels between having a successful garden and successfully managing wealth. “Garden” is…
Year: 2018
Spring Cleaning
The winter is finally over, and with spring comes new fragrances and pollens outside. To fully embrace the new season, some decide to clean their homes inside as well, moving everything and doing a full clean and assessment of what should be kept or thrown out. We collect treasures over our lifetimes that represent memories,…
An Introduction to ABLE Accounts
On December 3, 2014, Congress passed the Achieving a Better Life Experience Act, or as it’s more commonly known as, the ABLE Act. The ABLE Act authorized a new type of tax-favored savings account for blind or disabled individuals with a qualifying disability incurred prior to age 26. As of January 1, 2018, these individuals…
Elusive Treasures
St. Patrick’s day brings to mind the Irish legend of the pot of gold guarded by a leprechaun at the end of the rainbow. The pot of gold is simply unreachable because its location changes as soon as the treasure hunter’s location changes to investigate. The refracted light on water droplets that creates the rainbow…
Think Hard Before Tapping Your 401(k) Balance
One of the features that make 401(k) plans so attractive is that your money is not completely out of reach should an emergency need arise. Most plans allow for loans that are completely tax free if repaid as agreed. (Interest payments will be required, but they will be credited to the account.) In a major…
Lavish Gifts and Sudden Wealth
Some call Valentine’s Day an excuse to spend money, and with over 15 billion dollars spent each year for the last five years, it’s not very hard to see why. According to the National Retail Federation, the top five gifts that were planned last year were: candy, greeting cards, an evening out, flowers, and jewelry.…
Special Needs Planning 101: Why you should act NOW
“In 2015, U.S. health care costs were $3.2 trillion. That makes health care one of the country’s largest industries, equaling to 17.8% of gross domestic product (GDP). In comparison, health care costs were $27.2 billion in 1960, just 5% of GDP.” 1 “Advocacy group Autism Speaks reports that the cost of caring for a person…