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Category: Family Needs

October 29, 2024

Creating a Family Wealth Charter: Your Roadmap to Lasting Family Prosperity

Wealth is more than just money—it’s about security, opportunities, and legacy. But preserving and growing that wealth across generations requires a proactive plan. Enter the family wealth charter, a personalized document that lays out your family’s financial goals, values, and a structure for decision-making. It’s not just about handling assets, but about ensuring everyone in [...]

Patrick Corcorran
Contributions from: Kurt Biederman, JD, Patrick Corcorran

October 29, 2024

Long Term Care Planning

Whether you are part of the “sandwich generation” ― caring for both your kids and your parents ― or you are aging yourself, eventually some form of long-term care may be necessary in your family. Morningstar reports that 70 percent of those who turn 65 will need long-term care at some point in their lives, [...]

Vonie Bright
Contributions from: Vonie Bright, CFP®
529 savings plan

August 30, 2024

10 Most Common Questions About 529 Savings Plans

A 529 Savings Plan is a tax-advantaged account used to pay for qualified education expenses. Contributions are typically invested in target-date funds, which gradually shift toward a more conservative allocation as the beneficiary nears college age and will need to begin making withdrawals. You may be considering a 529 for your child, grandchild, or another [...]

Katie MietusHeather KesslerAlexandra Lambert
Contributions from: Katie Berntson, CFP®, Heather Kessler, CFP®, Alexandra Lambert

July 15, 2024

The Art of Parenting: Preparing Your College-Bound Student

Preparing to send your child off to college marks a significant milestone not just for them, but for your entire family. It’s a time filled with excitement, anticipation, and perhaps a touch of apprehension about what lies ahead. Many parents who send their first kid off to college are surprised to discover the various financial [...]

Heather Kessler
Contributions from: Heather Kessler, CFP®

August 11, 2023

Should I Spend My HSA On My Kid’s Braces?

Ah, the Health Savings Account (HSA)… with its quick rise to fame, the HSA has gained popularity as a company benefit. The HSA is loved far and wide by financial advisors as a flexible and tax-efficient tool to cover medical expenses in retirement. However, it can be tempting to utilize the funds before retirement – [...]

Eric Schuehle
Contributions from: Eric Schuehle

July 14, 2023

Developing Financial Independence

Summer: A time of celebrating independence! The caps and gowns of late June give way to BBQs and 4th of July fireworks. What’s easily forgotten during this Summertime bliss is that for our nation’s Founding Fathers, it was hardly a smooth path to independence. They were metaphorically teenagers fed up with tightening rules and curfews, [...]

David Bigelow
Contributions from: David Bigelow, CFP®, MBA

June 13, 2023

Empowering Your Special Needs Child Toward Independence

When we begin working with new families at Coldstream, we see some predictable patterns in their areas of focus. Perhaps their investment portfolio has grown to a size they no longer feel comfortable managing independently, or they have questions about when they can afford to retire, how to diversify out of a concentrated holding, or [...]

Ian Curtiss
Contributions from: Ian Curtiss, CFP®, CFA®, ChSNC

September 7, 2022

Sending Your Child Off to College: A Financial Checklist

Starting college is a big life transition for both students and their parents. While your student may be focused on orientation and choosing courses, there are some important financial considerations that accompany this change as well. Some are administrative items for you to consider, such as getting legal documents in order, paying expenses from a [...]

Katie Mietus
Contributions from: Anne Marie Stonich, CFP®, CPA, Katie Berntson, CFP®, Peter Beeson, CAPI

September 7, 2022

Ready to Use Your 529 Plan?

As your college student heads off to campus this fall, you may be wondering what expenses the 529 plan can cover versus which expenses are better paid out-of-pocket. Let’s take a closer look at expenses your student may encounter during their academic year and which of those qualify under your 529 plan. What Are “Qualified [...]

Heather Kessler
Contributions from: Heather Kessler, CFP®

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