Individual Retirement Arrangements (IRAs) are for retirement saving, right? Absolutely. Is that their only purpose? Not necessarily.   

As a parent or grandparent, you know firsthand the challenges of funding a child’s education. The Free Application for Federal Student Aid (FAFSA) Act was passed at the end of 2020 and has changed some of the qualifications for students to receive financial aid.

The point of the POA. A power of attorney (POA) is a legal instrument that delegates an individual’s legal authority to another person. If an individual is incapacitated, the POA assigns a trusted party to make decisions on his or her behalf. 

How can you help cover your child’s future college costs? Saving early (and often) may be key for most families. Here are some college savings vehicles to consider.

Will your retirement dreams match your reality?

That's perhaps the most critical question to ask people who are currently retired. Was your retirement what you expected, or was it something else?

People spend a lifetime accumulating assets and building an estate with the intention of passing it on to their heirs or charitable beneficiaries. Without proper planning, a person’s death can create significant hardships on the people for which the estate was created. 

A Roth IRA’s Many Benefits
Why do so many people choose them over traditional IRAs?

How do you picture your future? If you are like many contemplating retirement, your view is likely pragmatic compared to that of your parents. That doesn’t mean you must have a “plain vanilla” tomorrow. Even if your retirement savings are not as great as you would prefer, you still have great potential to design the life you want. 

If you have a child graduating from high school or college and entering the workforce, they may have the opportunity to open up a 401(k) through their new employer. In some cases, that employer will also offer matching contribution funds up to a certain percentage.