Brad McMillan, Commonwealth’s CIO, recaps the market and economic news for September.
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.
Learn to set boundaries around how much financial support you’ll provide to your kids.