Latest news with #529
Courier-Mail
3 days ago
- Entertainment
- Courier-Mail
British canoeist forced to decide between Olympic dream and OnlyFans
Don't miss out on the headlines from Other Sports. Followed categories will be added to My News. Canoeist Kurts Adams Rozentals has a decision to make — his OnlyFans or the Olympics. The British athlete was reportedly suspended last month by governing body Paddle UK, and he suspects it has something to do with his racy activity online. 'I have been posting videos (on Instagram) that are consciously made to be edgy in order to drive conversions to my 'spicy content page' (on OnlyFans), to fund this ultimate dream of going to the Olympics,' Rozentals said in an interview with BBC Sport. Kurts Adams Rozentals was suspended in April by governing body Paddle UK. Picture: kurtsadams/Instagram Paddle UK removed Rozentals from its World Class Programme pending an investigation. Picture: kurtsadam/Instagram Rozentals was removed from the World Class Programme, an initiative for potential Olympic athletes, by Paddle UK pending investigation, leaving his canoeing dreams up in the air. 'I kind of froze and I couldn't believe the words I was hearing because this is what I put my life into this is everything I do,' Rozentals told the outlet of the moment he heard the news. 'My personality at this point, my identity, is sport and I want to be a professional athlete chasing my Olympic dream.' BBC Sport reported Rozentals 'has more than 10,000 'likes' on the platform and 'has posted 39 videos and over 100 photos' earning more than '$A209,560 since creating his OnlyFans account in January.' 'This is the hardest decision that I've ever faced in my life,' Rozentals said. 'I came to the realisation about why I started doing this last winter after years of struggle, living on the edge, my mum working 90 hours-a-week, having bailiffs at the door.' 'I'm going to find a way where we don't have to struggle, where my mum can enjoy her life and I'm able to put everything into this sport because when you're thinking about how to pay the rent this month and you're standing at the start line, that's not very conducive (to performing well).' Rozentals posts videos and pictures on his Instagram account to drive viewers towards the content. Picture: kurtsadam/Instagram As a UK Paddle Programme athlete, Rozentals had been receiving $A33,529 - but said that's nowhere near enough to sustain himself.' 'I don't know how much you need but it's certainly not $A33,529,' said Rozentals. 'When you have to cover rent, travel, food… and most athletes who train full-time are all living in London.' 'They're very fortunate to have parent backing — I wasn't. I never had the ability to move to London because of financial struggles so I was always doing the travel from the East Midlands, where I live, to London, back-and-forth, back-and-forth.' This story originally appeared on the New York Post and is republished here with permission
Yahoo
6 days ago
- Business
- Yahoo
Advisors Weigh In on Trump's ‘Big, Beautiful' Bill
At more than 1,000 pages long, President Trump's tax cut bill is certainly big … but beauty may be in the eye of the beholder. Passed by the House last week, the proposed legislation now heads to the Senate, leaving financial advisors in a holding pattern as they assess the potential impacts. While some tax saving aspects could benefit clients, advisors said other provisions could negatively impact the economy at large. What we do know is the bill is far from finalized. 'To make any drastic portfolio changes based on a bill that struggled to make it out of the House is at best a risky trade, and at worst a speculative gamble,' said Sean Dann, director of investment research at Marshall Financial. This story was originally published on The Daily Upside. To receive financial advisor news, market insights, and practice management essentials, subscribe to our free Advisor Upside newsletter. The Congressional Budget Office projects the bill may add $3.8 trillion to the national deficit over the next decade — a key concern for the bond market. As of Friday, yields on 20- and 30-year Treasurys were trading above 5%, signaling growing investor concern over US debt. That market pressure could force policymakers to pull back spending, similar to the bond vigilantes of the Clinton era, said Mark Heppenstall, CIO at Penn Mutual Asset Management. 'The higher interest rates go, the less opportunity we have to fund things like tax cuts,' he said. 'Eventually, the costs become too burdensome.' But it's not just the tax bill driving up yields. Inflation, tariff uncertainty, and Moody's recent downgrade of the US credit rating are also contributing, Heppenstall said. 'The whole idea of US exceptionalism is beginning to unwind, and we're seeing a lot of stock and bond markets outperform US assets.' Please, Pass the SALT. Another major highlight for clients is the increase in the state and local tax (SALT) deduction. Highlights from the proposal include: Raising the cap from $10,000 to $40,000, which would primarily benefit residents in high-tax states like New York and California, advisors said. A proposed increase in the estate and gift tax exemption would raise it from $5 million to $15 million in 2026. 'Having a solid number to plan with helps a lot of high-net-worth individuals plan for their heirs more efficiently,' said Matthew Saneholtz, CIO at Tobias Financial Advisors. A novel program in the bill is the Money Accounts for Growth and Advancement, or MAGA accounts, which would provide children trusts seeded with $1,000 from the federal government. Parents could contribute up to $5,000 per year, which will then be invested in US stocks. The funds can go toward expenses, including college tuition, small business loans, and first-time home purchases. The accounts' eventual value will depend on how they stack up against more traditional savings vehicles like Roth IRAs, 529 plans, and Uniform Transfers to Minors Act accounts, said Catherine Valega, a CFP with Green Bee Advisory. 'Poor families will likely find themselves unable to add any funds themselves,' she said. 'This will benefit mostly the wealthy who already have enough options.' The post Advisors Weigh In on Trump's 'Big, Beautiful' Bill appeared first on The Daily Upside.
Yahoo
27-05-2025
- Business
- Yahoo
529 basics: How to pick, save, & manage the college savings plan
A tax-advantaged 529 plan can be a powerful way to save for education thanks to tax-deferred growth and tax-free withdrawals. Jennifer Hollers, LPL Financial senior vice president and head of high-net-worth planning services, joins Wealth to break down how families can maximize contributions and use recent rule changes to their advantage. To watch more expert insights and analysis on the latest market action, check out more Wealth here. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Epoch Times
23-05-2025
- Business
- Epoch Times
How to Open a Brokerage Account for a Minor
Yes, your child can become an investor. You can open a brokerage account called a custodial account for a minor, but retain control of it. And when your child reaches the age of maturity, your child can take over the account. But by learning the value of a dollar, saving and investing early on, your child can already be on the path to proper money management and financial wellness. And you have different types of accounts to choose from a variety of brokerage firms that may offer different investment options, competitive fees, and access to human financial advisers. So let's explore your options. Uniform Transfers to Minors Act (UTMA) Accounts The Uniform Transfers to Minors Act (UTMA) accounts are designed to hold a variety of investment options. These may include traditional and alternative investments, such as: stocks bonds mutual funds exchange-traded funds (ETFs) target-date funds (TDFs) precious metals (gold, silver, etc.) real estate works of art A UTMA account is relatively straightforward. You open an account through a brokerage firm and manage the investments. The assets technically belong to the minor. But they can't access these until they reach the legal age of maturity. That's usually age 18 or 21, depending on the state. You have a fiduciary duty to manage the account for the benefit of the minor. But there are some tax rules to keep in mind. This is how the 'kiddie tax' works: The first $1,300 is tax-free. The next $1,300 is taxed at the child's rate (typically 10 percent). Above $2,600, the money is taxed at the parent's marginal tax rate. Uniform Gifts to Minors Act (UGMA) accounts are limited to holding cash, stocks, mutual funds, and insurance policies. 529 Plans A 529 college savings plan is designed to help parents invest in their child's future college education. Contributions grow tax-free, and withdrawals are tax-free for qualified educational expenses like tuition, fees, and supplies required for enrollment. These are sponsored by states and managed by major brokerage firms. Some states also offer tax deductions or credits at the state level based on your contributions. And contribution limits are typically hundreds of thousands of dollars. Your investment options typically include mutual funds and TDFs. Coverdell Education Savings Accounts The Coverdell Education Savings accounts work similarly to 529 plans, but they have stricter contribution and income limits. The maximum contribution to your beneficiary is $2,000 per year. And your modified adjusted gross income (MAGI) can't exceed $110,000 or $220,000 for married couples filing jointly for you to be able to open an account. How to Open an Investing Account for a Minor The process of opening an investing account for a minor, such as an UGMA, UTMA, or 529 plan, is fairly straightforward. It can be done online through a brokerage firm's website in minutes. You generally need the following: Social Security number for you and the beneficiary; personal information like address; and checking account information to fund the account. What to Watch Out For Brokerage firms that offer these accounts vary in terms of quality. They offer different investing options, fees, services, and more. So it'll help to shop around for a firm and type of account that aligns with your overall investing goals. The Bottom Line Opening an investing account on behalf of your minor can be a great way to teach your kids about the value of money and money management. You can start as early as possible, as you would manage the assets. You have options such as UTMA accounts, UGMA accounts, 529 plans, and Coverdell Education Savings accounts. You can easily open one of these accounts online through a brokerage firm. But it would help to explore your options. Weigh points such as investment options, fees, and various services. The Epoch Times copyright © 2025. The views and opinions expressed are those of the authors. They are meant for general informational purposes only and should not be construed or interpreted as a recommendation or solicitation. The Epoch Times does not provide investment, tax, legal, financial planning, estate planning, or any other personal finance advice. The Epoch Times holds no liability for the accuracy or timeliness of the information provided. Related Stories 4/30/2025 4/24/2025
Malaysian Reserve
23-05-2025
- Business
- Malaysian Reserve
WA529 INVEST CELEBRATES NATIONAL 529 DAY BY OFFERING A FIRST-TIME INCENTIVE OF $50.00 FOR ACCOUNTS OPENED BETWEEN MAY 20
OLYMPIA, Wash., May 23, 2025 /PRNewswire/ — WA529 Invest, Washington state's official education savings plan, is celebrating National 529 Day by offering Washington families a first-time incentive of $50.00 for accounts opened between Tuesday, May 20 and Saturday, May 31, 2025, with an initial deposit of at least $50 and the activation of a recurring contribution of $50 or more. WA529 Invest is a tax-advantaged, flexible, and affordable way to save for various types of education and training after high school, including universities, community colleges, and qualified trade schools and apprenticeships. Savers can use 529 funds at most schools in the U.S. and even at many schools outside the U.S. With a WA529 Invest account, students can truly dream, save, and achieve. Complete benefits and instructions on how to open a WA529 Invest account and utilize this incentive of $50.00 are available at This promotional $50.00 offering is also accessible on the READYSAVE™ 529 app, available at the Apple Store, Google Play, or at Once downloaded, account holders can select WA529 Invest from the list of plans. This is an effortless way to stay connected with accounts anywhere, anytime. As May is 'graduation season,' this promotional May 20 – 31 period is the perfect time to utilize the app's online gifting tool, which allows account holders to invite friends and family to contribute to an account with Ugift®. WA529 Senior Director, Luke Minor, states, 'What an opportunity for our state's families to join WA529 Invest and plan for their children's future. We are very excited to offer this incentive during a time when families need it the most. Children are the future, and we can work together to make that future accessible for everyone.' Washington Education Savings Plans (WA529) offers two 529 savings programs to Washingtonians: WA529 Invest and the GET Prepaid Tuition Plan . Both plans offer individuals and families tax-advantaged options to save for education and career training. The Committee on Advanced Tuition Payment and College Savings, commonly known as the WA529 Committee, provides oversight and sets program policies. The five-member committee consists of the executive director of the Washington Student Achievement Council, the State Treasurer, the director of the Office of Financial Management, and two citizen representatives. The Washington Student Achievement Council supports and helps administer the programs, based on the Committee's direction. *Visit for terms and conditions. Promotion ends 05/31/25. Sponsored by the Washington Student Achievement Council. To learn more about WA529 Invest, its investment objectives, risks, charges, and expenses, see the Program Details Booklet at before investing. Read it carefully. Except to the extent of the guarantee associated with the Principal Plus Interest Portfolio, investments in the plan are neither insured nor guaranteed, and there is the risk of investment loss. WA529 Invest is administered by the Washington Committee on Advanced Tuition Payment and College Savings. TIAA-CREF Tuition Financing, Inc. (TFI), plan manager. TIAA-CREF Individual & Institutional Services, LLC, Member FINRA, distributor and underwriter for WA529Invest.
