Are you interested in saving money for your grandchildren? David LaMartina for ThinkAdvisor examines this subject in his article, Investing for Grandchildren (There are a few well-established ways advisors can help clients invest in their grandkids futures without putting client’s own retirements at risk.) In this article, he examines best practices for maintaining your own retirement and savings while setting aside specific funds for grandchildren in a variety of ways. Everything from 529 plans to inventive uses of life insurance polices.
Tag: grandchildren
New Tax Changes Affect Gifting Money to Minors
As the end of school approaches, many parents and grandparents consider college expenses for their children. What once was an easy and low-tax way to give money to younger children will soon cost a good deal more. Ashley Ebeling for Forbes explores the changes in the so called “Kiddie Tax” in her article, The Kiddie Tax Grows Up: Beware The IRA Trap
Grandparents Help With College
As college expenses continue to increase, grandparents are beginning to step-in and offer assistance to their grandchildren. John F. Wasik, for the New York Times offers sound advice for those wishing to help with their grandchildren’s college expenses. The Best Way to Help a Grandchild With College. There are many aspects to be considered in order to maximize your monetary support of a student, such as when the money is applied or whose name appears on the account. Read the full article to learn more about the amazing gift of higher-education that you can share with your grandchildren.
Say What You Will, Grandchildren Are A Blessing
According to a recent study from American University, women are prone to quit working and help with childcare when their children have babies. This is a trend that began to grow in 2008 and has increased since. The author appears to think this trend has a negative effect on the financial outlook for these families when the women retire “early.” But what about the health and happiness benefits of grandchildren or the fact that a few less years in a high stress job might add to your lifespan? Possibly we should all take a breath and remember that money isn’t everything.