It was a good week for schools in the Austin area. Several school districts passed bonds and a couple made adjustments to their tax structure, known as "Golden Pennies", that will allow them to retain more of their local tax money. All the measures should help provide better facilities, staffing, and learning opportunities for the students in those districts. But while some districts found gold, many teachers and district employees across the state may still be getting the shaft.
Tax Reform Tidbits
As I mentioned earlier this week, the 401(k) deduction limits were left unchanged in the House GOP tax reform legislation that was finally released yesterday. There are MANY details to the plan and the final product will likely look different after public input and reconciliation negotiations, but here are a few highlights .
How to Pick a Mutual Fund
“Many of our mutual funds earn Morningstar’s highest ratings,” reads the headline on a major mutual fund company’s website. They aren’t unique. Virtually every fund company references the Chicago based investment research firm’s rating system to promote their funds that have earned the coveted 4 or 5-Star ratings.
When you consider a new investment option in your 401(k) or where to put your next IRA contribution, chances are that you checked the star rating before making the selections. You’re not alone.