For parents looking to save for their child’s future educational expenses, 529 college savings plans are highly regarded as the best way to save. A 529 account allows you to invest and grow assets free from federal and state taxes, as well as tax-free withdrawals for qualified educational expenses.
I am not a fan of basketball, but one story this year caught my attention. The Philadelphia 76ers, who were far and away the worst team in the National Basketball Association over the past few seasons, surprised many fans and basketball insiders alike when they won 52 games en route to the number 3 seed in the Eastern Conference playoffs. For the 76ers players and fans, the mantra “trust the process” served as a rallying cry for the team throughout the season and into the playoffs.
According to the US Department of Agriculture's most recent annual estimate, it will cost a middle-income family $233,610 to raise a child to age 18, ignoring college and inflation. This is a staggeringly high number, but the cost to raise a child with special needs can exceed that number by 5 or 10 times, depending on the child's condition.