As reported by Jeff Stein in the Washington Post (May 17): “The Internal Revenue Service will on July 15 start delivering a monthly payment of $300 per child under 6 and $250 per child 6 or older for those who qualify. The monthly benefits will be deposited directly in most families’ bank accounts on the…
Category: children
ID theft targets children
The Wall Street Journal (by Yuka Hayashi, 8/29/18) reports that a new federal law going into effect in September 2018 will make it easier for parents to check a child’s name and freeze their credit to combat the growing problem of ID theft of children.“A child’s Social Security number can be used by identity thieves…
Do you have a child with special needs?
“Clients who have a child with special needs face ‘a special set of financial considerations,’ writes Brooke Hawley, a financial adviser and mother of a child living with special needs. The most important thing to do, according to Hawley, is set up a special needs trust in the child’s name.”Check out this excellent article: https://www.wealthmanagement.com/client-relations/speaking-experience-financial-planning-special-needs-families…
Financial planning for special needs children
“Parents face many challenges when they must balance long-term planning for a special-needs child with their own retirement savings, experts say. Certified financial planner Mary Anne Ehlert says crucial factors for special-needs families include investment allocations, government benefits and estate plans.” (Retirement Security Smartbrief). Morningstar contributor Mark Miller explains government assistance available to special-needs family…
Financial Resources for Parents from CFPB
RESOURCES FOR PARENTS Parents and caregivers want to put their children on a solid path to a bright financial future – but they’re not always certain about what to do and when. The CPFB has launched the new Money As You Grow Web site, where we provide a framework for how children develop financially, along…
Planning for the cost of children
“The U.S. Department of Agriculture’s handy, terrifying Cost of Raising a Child Calculator told me that the average two-parent household in the U.S. earning less than $61,530 a year spends $11,850 to raise a child in his or her first year. Such a big number might make you think that having a baby is impossible…
Pay your kids to eat vegetables?
Study finds short-term cash incentives yield more-healthful eating habits in the long term as reported in The Wall Street Journal by Beckie Strum, Oct. 16, 2016. “The strategy not only works in the short term, but can create healthful eating habits in children in the long run if the little bribe is carried out consistently…