Brad McMillan, Commonwealth’s CIO, recaps the market and economic news for September.
Do your children act like money grows on trees? If they observe you effortlessly pulling out the credit card for every purchase or they play video games where they can buy accessories for avatars, it’s understandable why they hold onto that cliché. This can lead them to believe they can buy whatever they want without ever paying for it—just a wave of a plastic card and it’s theirs. So, when the time comes to teach your kids how to handle their own money, you’ll want to lean on some best practices.
For parents, deciding how much to save for retirement versus what to set aside for a child’s education can be a difficult balancing act. Saving for your future should be a priority, particularly through maximizing the benefits of retirement plans. But, although paying yourself first is essential, that doesn’t mean you can’t set funds aside to further a child’s education. A college savings plan is a tax-advantaged way to achieve this goal. The following information is intended to help you understand how these savings vehicles can help you meet the present and future needs of your family.
As we learned from the Equifax breach in 2017, we can fall victim to identity theft through no fault of our own. Although it isn’t feasible to master every identity theft scenario, it’s worth your time to learn more about the available identity theft tools and services and how to initiate a recovery plan if you become a victim.
If you’re like many people, you’ve thought about making an estate plan, but you just never get around to doing it. Perhaps you’re too busy, or maybe you’d rather avoid considering what will happen in the event of your incapacity or death. Although these concerns are understandable, estate planning is a vital component of your financial well-being—and one that’s best tackled sooner rather than later.
Get an overview of three key tax features available via life insurance.
Get tips for keeping wedding expenses in check, whether you’re the host or a guest.
Learn how to help your parents maintain their independence as they get older.
With summer just around the corner, it’s time to get moving on your vacation plans before it’s too late. Whether you decide to book online yourself or go through a travel agent, here are some tips to help you save time and money.
Should you sell it or keep it? Be sure to consider these factors.