There are two types of 529 accounts: the college savings plan and the prepaid tuition plan. The latter allows you to prepay for future college courses at current prices—in other words, get the 2018 rate 18 or 20 years from now. That sounds great, but there are major drawbacks. The prepaid plan guarantees to cover… Continue reading Starting a 529 College Savings Plan Is a Great Idea, Even for Parents of a Newborn
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How to Help Your Grandchildren Financially
Many grandparents want to help their grandchildren—and even future grandchildren—financially. But this can be challenging because so many issues of fairness can arise. If you have multiple grandchildren of varying ages and have been giving each of these grandchildren gifts of varying sizes since birth, the amounts may not be equal. The process of balancing… Continue reading How to Help Your Grandchildren Financially