More Articles for Your Family

What do I do with unused 529 plan money?

Kimberly Lankford, Contributing Editor, and Kiplinger's Personal Finance •
Kiplinger

I opened 529 college-savings accounts for both of my grandsons. One of them just won a four-year scholarship to college. If I don’t use the money for college expenses, do I have to pay a penalty? Generally, if you withdraw money from a 529 for anything other than eligible college expenses, the earnings portion of

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How a Roth conversion can save you and your heirs thousands

Wealth Group, Founder, WEALTH MANAGER, Excel Tax, Ria, and Carlos Dias Jr. •
Kiplinger

If you have an individual retirement account (IRA), you probably already know about required minimum distributions (RMDs). For traditional IRAs, including Simplified Employee Pension (SEP) or a Savings Incentive Match Plan for Employees (SIMPLE), you must take your first RMD in the year you turn 70½ or by April 1st of the following year from

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Dependent-care flexible spending accounts aren’t just for kids’ expenses

Kimberly Lankford, Contributing Editor, and Kiplinger's Personal Finance •
Kiplinger

Can I use money from my employer’s dependent-care flexible spending account to pay for adult day care for my elderly mother, or is the account just for child care? The dependent-care FSA isn’t just for children. You can also use the money tax-free to cover care for other dependents while you work. To qualify, the

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5 easy steps every parent should take if they want to be able to pay for their kid to go to college

Emmie Martin •
Business Insider

Parents are saving for college at record levels — but they’re still coming up short. According to Fidelity’s recently released 10-Year College Progress Report, 72% of parents reported saving for college this year — a record high — compared to 58% in 2007. But despite this increase, the study found that just 29% of parents

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A hidden Social Security windfall for divorcees

CFP®, Dana McLaughlin, Senior Wealth Advisor, C(k)P®, LLC, and Beirne Wealth Consulting Services •
Kiplinger

For divorcees nearing retirement, time is of the essence to thoroughly analyze your financial readiness–and Social Security is often not given its due attention. It not only ensures a consistent income stream, but it is also somewhat customizable to individual circumstances. Social Security benefits are far more complex than many people realize. But a financial

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A simple guide to college savings plans

Taylor Schulte, Founder, Define Financial, CFP, and CEO •
Kiplinger

The grand estimated cost to send my hypothetical unborn child to my alma mater–the University of Arizona–in 18 years: $440,223! It’s also close to the current median home price in San Diego. The cost of college will continue to increase by an average of 5% per year, as it has over the past decade, according

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