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: gifting money
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