THE WAY OF SUCCESS IS THE WAY OF THE CONTINUOUS PURSUIT OF KNOWLEDGE.

– Napoleon Hill

MERISTEM RESOURCE CENTER

Find discussion of the latest topics and issues in the wealth management, asset management & investment industries:

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Section 179 Deductions

Rehabilitates property damaged, or replaces property destroyed or condemned, as a result of such federally declared disaster, except that, for purposes of this clause, property shall be treated as replacing property destroyed or condemned if, as part of an integrated plan, such property replaces property which is included in a continuous area which includes real property destroyed or condemned, is similar in nature to, and located in the same county as, the property being rehabilitated or replaced, the original use of which in such disaster area commences with an eligible taxpayer on or after the applicable disaster date, which is acquired by such eligible taxpayer by purchase on or after the applicable disaster date, but only if no written binding contract for the acquisition was in effect before such date, and which is placed in service by such eligible taxpayer on or before the date which is the last day of the third calendar year following the applicable disaster date (the fourth calendar year in the case of nonresidential real property and residential rental property).

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Turning Profits into Wealth: A Guide for High-Earning Business Owners

Growing a business is impressive, but it takes more than just turning a profit to build wealth: It requires a mind shift from short-term gains to long-term prosperity. A business owner must focus on the company’s financial confidence and long-term sustainability. Here are some critical tips to help business owners turn their earnings into wealth.

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SECURE Act 2.0: What Business Owners Need to Know for 2024

SECURE Act 2.0 features a host of potential changes for 2024, including adjustments to RMD rules, auto-enrollment retirement plans, changes to catch-up contribution rules, increased annuity options, and other new provisions to help employees pursue financial independence. Here are the details of each provision to remain compliant with the Act.

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These Are the Best Ways to Teach Kids about Money

Money can be a confusing and unapproachable topic for adults, let alone for kids. The key is to teach children about money early so that they can develop a healthy relationship with it.

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Raising Savers: Teaching Your Kids How to Avoid Learning Financial Responsibility the Hard Way

Who doesn’t remember their first job, receiving your first paycheck, and even applying for and using a credit card for the first time? Access to money provides a sense of freedom and the ability to buy things you want with your own money. For many of us, we find it easy to spend money. When we are young, we don’t think much about the importance of saving and having funds put away for life’s responsibilities and emergencies.

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5 Ways to Improve Your Financial Awareness

Regardless of what you do or how much you earn, you deal with money on a daily basis. The more you understand about finances, the more effectively you will be able to manage yours.

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The Principles of Financial Literacy

Financial literacy refers to the skills and knowledge that allow an individual to make informed and effective decisions through their understanding of finances. Financial literacy starts by building a basic understanding of ‘money matters’ to create a sense of economic well-being, self-trust, and financial confidence.

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Is a 529 to Roth IRA Rollover Right for You? Here’s What You Need to Know

After the passage of the SECURE Act 2.0, 529 plan account owners or beneficiaries can roll over 529 funds into a beneficiary-owned Roth IRA tax-free and penalty-free. Meaning, if you put money into the 529 plan and your child receives a scholarship or doesn’t attend school, the leftover money can now be rolled over into a Roth IRA.

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Pearls of Wisdom: Wealth Preservation for High-Net-Worth Women

Wealth preservation is essential for high-net-worth (HNW) individuals, but it warrants a gender-specific focus, too. Particularly for HNW women, understanding the complexities of wealth preservation is crucial.

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Retirement Planning: A Map to Changes in 2024

The world of retirement planning is undergoing a fairly significant transformation, as tax brackets, retirement contribution limits, estate and gift tax exemptions, among other things, are set to undergo upward revisions. Additionally, the gradual introduction of Secure 2.0, a pivotal retirement legislation, continues to unfurl, introducing implications that resonate deeply with both prospective retirees and current savers.

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