Category: Family Needs

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

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®
529 savings plan

September 6, 2022

10 Most Common Questions About 529 Savings Plans

529 Savings Plans are tax-advantaged accounts used to pay for qualified education expenses. Contributions are typically invested in target-date funds, gradually shifting toward a more conservative allocation as the beneficiary nears college age. You may be considering a 529 for your child, grandchild, or another family member. Here are some of the more common questions [...]

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

March 16, 2022

Raising Wealth

Back in the 80s there were two popular shows on TV – one cartoon and one sitcom – that portrayed a ridiculous interpretation of what a wealthy kid’s life might be like. In Silver Spoons, Ricky (played by Rick Schroder) meets his maturity-stunted father, who has never had to work a day in his life. [...]

Becky Wilcox
Contributions from: Becky Wilcox, CFA®, MBA, FRM®

March 11, 2022

Does My Child Need to File a Tax Return?

Your teenager may have had their first job working at the snack shack last summer, and their W2 just arrived in the mail.  Or perhaps you collectively decided to sell some of the gifted Microsoft stock from their custodial account so your teenager could purchase their first car.  Now you’ve received a 1099 and wonder [...]

Vince Lee
Contributions from: Vince Lee, CFP®, CPA

February 9, 2022

Financial Planning for Aging Parents

While you likely grew up in a household where your parents took care of you, what happens when the tables turn, and they need you to take care of them? On top of the unpleasant emotions of seeing a parent age or decline in health, this role reversal often leaves you responsible for your parents’ [...]

Eric Schuehle
Contributions from: Eric Schuehle