In previous piggy bank series articles, we touched on the two most common savings vehicles for education needs – custodial accounts and 529 college savings plans. While both of them offer simplicity, low costs, and valuable tax savings, they lack the flexibility desired by certain families. For example, parents may prefer their child to have […]
The Piggy Bank Series: 529 College Savings Plans
When it comes to saving for college, it feels like no matter what we do, the cost of tuition seems to be out of reach. As evident in Graph 1 below, over the past forty years, college tuition has risen more than twice as fast as the Consumer Price Index (CPI), averaging about 6.6%, compared […]
The Piggy Bank Series: Custodial Accounts
Before I had any idea what money was about, I was given a white, ceramic piggy bank. The object itself was absolutely boring, yet I loved the idea of inserting metal objects (coins) into the “tummy” of the pig, hearing the clank, and knowing that they were in a safe place. Yes, cash was pretty […]
Digital Asset Planning 101: What You Need to Know and Do
Just a few decades ago the world seemed a lot simpler. You may own a house, a car or two, cash, some investments, and perhaps a boat or even a vacation home. These things could be divided into two categories: real (or tangible) assets and intangible assets. Then came the advent of the internet when […]
Taking Care of Mom: How We Can Be Your Trusted Partner
Financial exploitation comes in all shapes and forms, from the less convincing IRS scams and fake fundraisers, to sophisticated hoaxes such as the Madoff Ponzi scheme, to ultimately heart-breaking deceptions known as the “sweetheart” and “grandparent” scams.1 Even if we have not been met with one ourselves, it is safe to say that all of […]
How to Survive Volatile Markets
After an unprecedented period of calmness in the stock market, volatility reared its ugly head with full force in the last quarter of 2018, evidenced by spikes in the “fear” index (Chart 1). Investors received a rude awakening as many high-flying stocks that were perceived to have little downside risk plunged substantially, prompting these investors […]
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