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The 411 on 529s

The 411 on 529s

I was at a birthday party for a friend of my son a few weeks ago and the topic of discussion among parents turned to saving for college. Higher education has always been costly and, historically, considered well worth the price. Despite savings, grants and scholarships, Millennials and their parents (who, for the most part, are Baby Boomers) bore the brunt of those escalating costs in real time. Now the most educated – and debt-burdened – generation in American history is beginning to have children of its own. Possibly, the only way Millennials are going to avoid prolonging the education loan cycle is to start saving for their children’s education the minute they are born.
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Tragic Motivation

Tragic Motivation

It’s an unfortunate truth: sometimes bad things happen to good people. And not being in any way prepared only compounds and extends the pain and loss. Such was the case of Chanel Reynolds, reported in the New York Times. Chanel lost her 43-year-old husband in a bicycling accident and was consumed by the enormity of the financial tasks ahead of her. The challenges she faced veered from the simple (knowing the password to the checking account) to the complex (what would happen to their unsigned written wills?).
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The Sums of Education

The Sums of Education

Millennials, people born after 1980, who went to college in the early years of the 21st century, now have young families or are starting to think about it. Considering the oldest Millennials are currently cresting 30, the timing seems right. But what sets them apart from other generations is this age group’s indebtedness to education loans. It’s not just a possibility that they will be saving for their children’s education while they pay off theirs, it’s a fact.
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The X Factor

The X Factor

To Gen Xers (members of Generation X, those born between 1969 and 1978), it may seem like their older siblings – the Baby Boomers – get all the attention. But just because their numbers are greater, doesn’t mean that challenges facing Gen Xers aren’t just as real. 
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The Trust Factor

The Trust Factor

During my time as a lawyer, which essentially involved the study and mitigation of relationships gone wrong, I learned that there is a significant cost to the loss of trust. If you feel as though you can’t trust leaders in business and government, you’re not alone. And in the case of the financial services industry, perception is even more important than reality.
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