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  • What Can You Buy With 529 Distributions

What Can You Buy With 529 Distributions?

2025-03-25T11:45:29-05:00February 28, 2024|Categories: Resource Center|Tags: , , , , |

What Can You Buy With 529 Distributions?

WHAT CAN YOU BUY WITH 529 DISTRIBUTIONS?

A 529 college savings plan is a tax-advantaged way to save for education expenses, and it’s not just limited to college anymore. Originally designed to help families save for higher education, these plans can now be used for a wider range of educational expenses, including K-12 tuition, private and religious schools, vocational schools, and even some international institutions. The plan offers flexibility, allowing individuals to use the funds for various educational purposes beyond traditional four-year college programs.

The primary advantage of a 529 plan is its tax benefits. Earnings on the funds grow tax-deferred, and withdrawals used for qualified education expenses are tax-free. However, it’s important to note that each state may treat 529 plan contributions differently, offering different state tax deductions or credits. Additionally, the fees and expenses associated with each 529 plan can vary, so …

  • History of Currency

History of Currency

2025-03-25T12:14:40-05:00April 6, 2023|Categories: Resource Center|Tags: |

History of Currency

To Barter or Not to Barter?

Bartering, once thought to be the earliest form of trade, is now considered inefficient. It was historically used as a supplement to more advanced systems of payment, as it required finding a person who wanted what you had to offer, which made the process cumbersome.

With the rise of agriculture, livestock like cattle and sheep, along with grain, became early forms of currency. These items were essential for sustenance and also represented wealth, with the word capitale (meaning livestock) eventually evolving into the word “capital.”

By 1300 BC, cowrie shells, small colorful shells from sea snails, began to be used as currency across different regions. They were small, divisible, and durable—ideal traits for money. This marked a shift from barter to more standardized forms of exchange.

Around 700-600 BC, coins were introduced in Turkey. Initially irregular in shape, coins made from electrum (a mix …

  • Half Million Dollar Baby

Half Million Dollar Baby

2025-03-25T12:18:06-05:00April 6, 2023|Categories: Resource Center|Tags: , , |

Half Million Dollar Baby

What Does It Actually Cost to Raise a Child?

The costs associated with raising a child start right at birth. A hospital bill for childbirth can easily reach up to $20,000, depending on various factors such as the type of birth and insurance coverage. Additionally, prenatal care adds extra expenses, often making the total cost even higher.

Food Costs

Once a child is born, feeding them becomes a significant part of the budget. On average, parents spend nearly $2,500 each year on food for their children. Over 18 years, this adds up to almost $45,000. These costs increase as the child grows and their nutritional needs change.

Hiring Help

For households with two working parents, the cost of childcare can be substantial. Depending on the type of care, expenses can range from $5,436 to $24,243 per year. Whether it’s daycare, a nanny, or other forms of help, these costs are …

The Great Resignation

2022-03-07T22:27:35-06:00March 6, 2022|Categories: Resource Center, Weekly Update|Tags: , , , , |

The Great Resignation

The Great Resignation — a popular phrase referring to the roughly 33 million Americans who have resigned since the spring of 2021 — is far more than just a movement of people quitting their jobs. It’s a shift in the mindset of primarily Millennial and Generation Z workers, who are fed-up and looking for a change.
In our latest article, we take a look at the phenomenon that is The Great Resignation and unpack why people are resigning and how companies are addressing this unprecedented labor market issue. Download the article here.
  • Alternative Investments - Luxury Collectibles, A Growing Asset Class

Alternative Investments – Luxury Collectibles, A Growing Asset Class

2025-03-25T12:27:44-05:00February 13, 2022|Categories: Resource Center|Tags: , , , |

Alternative Investments – Luxury Collectibles, A Growing Asset Class

In our new infographic below, we examine a unique alternative investment category — luxury collectibles.  Along with the infographic, download our latest article on alternative investments here – https://bit.ly/3gKB4KM

Alternative Investments: Luxury Collectibles as a Growing Asset Class

In the wake of the 2008 financial meltdown and the uncertainty of the global pandemic, investors have increasingly turned to alternative investments. Concerned that traditional stock markets no longer offer reliable capital preservation, many have sought new opportunities. Luxury collectibles, such as fine wine, art, jewelry, and watches, have become popular asset classes, offering low correlation to the market and potential for high returns.

Fine Wine

Investing in fine wine has gained traction as an alternative investment, particularly in times of market instability. After the 2008 crisis, the Liv-Ex 100 Index saw a remarkable 40.5% return. Even more recently, fine wine prices have continued …

  • Two People Reviewing Finances, Money Tips for Better Relationships

Money Tips for Better Relationships

2025-03-25T12:33:26-05:00May 26, 2021|Categories: Resource Center, Weekly Update|Tags: , , , , |

Money Tips for Better Relationships

Financial disagreements are a significant challenge in marriages, with research indicating that 70% of married millennial couples argue about money more than any other topic. These disputes can contribute to marital strain and even dissolution. However, couples who approach their finances collaboratively can often overcome these challenges and strengthen their relationship.

Effective communication is crucial for navigating financial discussions. Couples should openly talk about their financial goals, habits, and past experiences, as these factors often shape how each partner views money. Setting shared goals and creating a mutually agreed-upon budget can provide clarity and foster unity. Additionally, regularly meeting to review financial matters, establishing a clear threshold for big purchases, and working together on decisions can minimize conflict and ensure both partners feel involved.

Trust, honesty, and a willingness to update financial plans as life changes are also vital. Couples may benefit from seeking the advice of …

  • Woman Drinking Coffee On Bench With Dog At Her Side, 9 Crucial Steps to Ensure You’re Prepared for Retirement

9 Crucial Steps to Ensure You’re Prepared for Retirement

2025-03-25T12:40:57-05:00March 26, 2021|Categories: Resource Center, Weekly Update|Tags: , , , |

9 Crucial Steps to Ensure You’re Prepared for Retirement

As retirement approaches, it’s crucial to have a plan in place to ensure a smooth transition. The pre-retirement checklist is an essential tool to help you assess how ready you are. By breaking down key elements, you can better understand your goals and progress. Start by determining your goals—consider when and how you want to retire, your desired lifestyle, and where you plan to live. Whether you plan to downsize your home, travel, or enjoy a more relaxed pace, defining these aspects will shape your retirement.

Health insurance, long-term care, and Medicare strategies are also important considerations. Since 52% of people turning 65 will require long-term care, planning ahead is essential. Similarly, understanding your health coverage options and preparing for potential medical costs is vital. When it comes to finances, reviewing your spending and budget is crucial. Assess your current savings and …

  • Couple Overlooking Mountain Valley, The Great Spending Balance

The Great Spending Balance

2025-03-25T12:53:51-05:00January 15, 2021|Categories: Resource Center|Tags: , |

The Great Spending Balance

The Great Spending Balance
Your financial life is a balancing act, strung between living in the present and preparing for the future. Saving for retirement may be a focus, but it could feel like you’re missing out on enjoying today.

Balancing your present lifestyle with future savings is essential, and three key areas—your home, car, and travel—play a significant role in this. When it comes to your home, consider factors like location, size, and maintenance needs, especially as you age. Downsizing can be a smart financial move, freeing up home equity to invest for the future. Similarly, choosing the right car can make a big difference in your financial outlook; opting for a less expensive model can save money, which could be invested for long-term growth. Finally, travel doesn’t have to break the bank. By adjusting travel choices—such as opting for more affordable accommodations and meals—you can enjoy …

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