Feature 529 Savings Plan Prepaid College Plan UGMA/UTMA Custodial Account Brokerage Account (Parent-Owned) Primary Purpose Save and invest for education expenses Lock in future tuition costs at today’s rates General savings/investing for child’s benefit Flexible investing for any purpose Who Controls the Account? Parent/Account Owner Parent/Account Owner Parent until child reaches age of majority Parent Who Owns the Assets? Parent Parent Child Parent Investment Options Limite

As I’ve shared in previous newsletters, there are several ways to save and invest for your child’s future educational needs. Choosing the right option depends on your goals, flexibility needs, tax considerations, and how much control you want to maintain over the funds. You may have heard discussion around the new Trump Account, which includes a government contribution of $1,000 for eligible children born between January 1, 2025, and December 31, 2028. Free money certainly ca

Take control. Build confidence. Move forward, one step at a time. Financial wellness is within your reach. With a little knowledge, consistency, and support, you can build a life of stability and freedom. Use this checklist to reflect on where you are now and where you'd like to go. Celebrate your strengths —and know that support is available when you need it. Check off what you’ve already got in place. Circle where you’d like help or clarity. Your income covers your expenses

High Yield Savings Account – HYSA There are a lot of references made in the media to high yield savings accounts (HYSA). The accounts operate very similar or the same as checking or savings account. The money on deposit earns interest paid monthly. Check around as different places offer differing rates and have different restrictions. If you have money sitting in a savings account at the bank only earning 1% you are losing money each day. First, check with the bank yo

Having a healthy financial mindset is key for financial wellness. A financial mindset refers to one’s beliefs, attitudes and behaviors...

The Doctor's Momma Financial Wellness Coaching How to Be in Control of Your Finances I don’t think anyone gets up and says, “I...

Writing out your financial goals can be a powerful first step toward achieving financial success. If this is new for you, start with a foundational goal like organizing your personal finances and creating a plan to achieve your objectives for the year. To make your goals effective, they should be SMART : • Specific • Motivational • Attainable • Relevant • Trackable Example of a Specific Goal: Build an emergency fund equal to three months of living expenses within the next six

Don’t File Your Taxes Just Yet… Before filing your taxes this year, consider opening or contributing to an IRA or a Roth IRA . Making an IRA contribution could potentially save you money on taxes while also securing your financial future—a win-win! Understanding Individual Retirement Accounts (IRAs) The Individual Retirement Account (IRA) was introduced in 1974 under the Employee Security Act and became popular with the 1981 Economic Recovery Act . Originally, these accou