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Among the tools available to fund your child’s higher education, 529 plans, also known as ‘qualified tuition plans,’ are a highly effective and successful alternative. A 529 plan is an investment account that is used to pay for education expenses. The account can be used to pay for the following qualified expenses: - Tuition - Room and Board - Books and Supplies - School Fees and Other Requirements for Enrollment - Computer and Software One of the primary benefits of 529 plans is that the growth in the account from capital gains and dividends is tax-free if used for qualified expenses. Over the years this benefit can be extremely attractive. Many states also offer tax benefits based on contributions to their plan. Opening an account is available to many, including other family members. A parent, uncle, grandmother, or even a family friend can open an account and choose your [...]

“We all have a picture of what our lives may look like when our kids leave home.” – Empty Nest Full Pockets. We may conjure up different ways to cope - whether they be healthy or unhealthy for our mental or physical health. According to an article by Lynn Byars MD, MPH, FACP “Empty Nest Syndrome is a term that is used to describe the distressing responses that some parents experience when their adult child leaves home permanently. Reactions might include: sadness, depression, irritability, anger, resentment, anxiety, guilt, loneliness, and even some physical symptoms.”* That initial feeling of loss and disorientation set in for me personally, when my first son left for college. “Before his departure, I believed I would bein constant contact with him about classes, dorm issues, and his social comings and goings.” My apprehension came from the belief that this loss of contact would leave me feeling empty [...]