May 2023 Newsletter

FAFSA: A College Planning Essential

FAFSA inscription on documents. Business concept

With National 529 Day coming up on May 29th, this month is a great time to start thinking about savings options for higher education. We have many clients who are actively saving with 529’s for their children, grandchildren, and others going to college. What is sometimes overlooked is the importance of completing the Free Application for Federal Student Aid (FAFSA®). It has just been condensed based on the FAFSA® Simplification Act. Advisors Jill Carr and Jessie Schlanderer have put together a short presentation on the FAFSA®, including the impact of the FAFSA® Simplification Act, common mistakes to avoid while completing the application, and the importance of submitting one, even if you don’t think you will receive any money. Learn more watch our webinar.Jill Carr/Jessie Schlanderer

New Cash Management Offerings

We are excited to share information about a new offering for excess cash which is available to Stephens Wealth Management Group clients. Through our partner, StoneCastle, we offer a competitive interest rate and significantly higher FDIC insurance coverage than is typically available for your excess cash. A few items to consider:

  • A new account will need to be set up and the minimum initial deposit is $100,000
  • Current yield is 4.26% for balances up to $1 million (the rate tiers down above this amount) and can fluctuate based on interest rates
  • FDIC coverage up to $25 million
  • There are no transaction limits and cash is available via wire or ACH within a few days
  • No check writing is available
  • You have online access to account information with one account, one statement (electronic only) and one Form 1099 (paper only) for yearly tax reporting
  • You can select an impact option which utilizes community banks and seeks to benefit local communities (at a reduced interest rate)
  • Stephens Wealth Management Group charges an administrative fee of 0.10% and your yield is net of fees

Please click email us for a brochure on StoneCastle. Contact us with questions or to establish an account. – Jason Guenther

Tips for Managing Your Home Remotely

Managing your home from afar has never been easier than it is today. There are several tools and services available that did not exist even ten years ago. We’ve listed some ideas for you to consider – and welcome your input on things you do to make a home from afar a little more manageable.

Safety and Access to Your Home:

Read More:

Savings Tips for Gen Z

Whether you are in your 20’s or have a child or grandchild in their 20’s, this short webinar provides introductory tips on how and where to save and the process of building solid financial habits.  Please feel free to share the video with anyone that you think would benefit. – Tyler Stephens

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