Planning Perspectives shares practical ideas and advice from Custom Fit Financial to help you make smart, informed choices about your money. Whether you are getting organized, preparing for retirement, or managing taxes, our goal is to help you feel confident and in control.
If you are 65 or older and still doing Roth conversions without accounting for the new senior deduction, you may be leaving thousands of dollars on the table, or worse, paying far more tax than you realize. The One Big Beautiful Bill Act (OBBBA), signed into law in...
Most people don't think much about how Social Security benefits actually get paid, until a family member can no longer manage money on their own. That's where representative payees come in, and it's a topic worth understanding before you're in the middle of a crisis....
If you have access to a Health Savings Account, you may already know it helps cover medical expenses tax-free. But here is something a lot of people miss: the HSA is quietly one of the most powerful retirement savings tools available, and most people are not using it...
As you think about helping family or funding education before December 31, here is a simple guide to what you can give in 2026 and when you may need to file a return. Key Numbers: The Annual Gift Exclusion The foundation of tax-free giving is the Annual Gift...
If you are approaching retirement in Iowa and still planning around the assumption that the state will tax your pension and IRA withdrawals, your plan may be out of date. Iowa does not tax most retirement income for residents who qualify for the state’s retirement...
Trump Accounts represent one of the newest investment vehicles available to American families, created under the One Big Beautiful Bill Act of 2025. These accounts combine features of traditional IRAs with long-term savings goals specifically designed for children....
Many people assume life insurance is something you need only while you are working. As retirement approaches, a common question comes up. Do I still need life insurance once I stop earning a paycheck? The answer depends on why the coverage exists and how it fits into...
The start of a new year has a way of making us pause. We naturally reflect on where we have been, what worked, what did not, and what we hope the next chapter will bring. Financially, the New Year is not about perfection or drastic change. It is about clarity,...
If you are in a lower tax year than usual, a Roth conversion can be a smart way to move money from a traditional IRA into a Roth IRA and lock in today’s tax rate. Think of it as paying tax on your terms now so that future withdrawals can be tax free if you follow the...
If you are an Iowa teacher in your 50s or 60s, IPERS is likely the backbone of your retirement plan. It is designed to provide a steady monthly check, but knowing how the benefit is calculated, and how it fits with Social Security and your savings, can feel unclear....
Saving for education can feel like a big challenge, whether you are planning for your child’s college, a grandchild’s future, or even your own continuing education. One of the most effective tools available to Iowans is the Iowa 529 College Savings Plan, also known as...
Have you ever wondered if your financial advisor truly works for you or for the products they sell? The way financial professionals are compensated can make a big difference in the advice you receive. Many advisors earn commissions from investment or insurance...