Category Archives: Grandchildren

When it is relevant for a client, PWR financial plans include a section on personal finance for children.  We compile information from a few sources including Money as You Grow. Here are some age appropriate activities I started doing with my 3 1/2 year old. 1)  Identify what costs money versus what is free.  For example, we pay money when we go to the local pool.  We don’t pay money when we go to the library, park or the beach.  Those are free activities. 2)  Explain thatRead More

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When grandparents want to help pay for a grandchild’s education, they can choose a method that is just as beneficial to them as it is to their grandchild. With smart planning, grandparents can save taxes using a tax-preferred vehicle like a 529 plan. If they choose a 529 plan, it is important to understand the implications of having grandparents as owners instead of the child’s parents. Tax-deferred 529 plans have an account owner and a beneficiary. Typically, a parent isRead More

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