Beyond Tuition: Using 529s for CPA Exams, Pilot Licenses, and Trade Skills
For years, the 529 plan was seen as the “University Bucket.” If your child didn’t want a four-year degree, many parents worried the money would be “wasted” or hit with penalties. But as we settle into 2026, the definition of “higher education” has undergone a massive, federally mandated glow-up. Thanks to the One Big Beautiful […]
No More “Trapped” 529 Funds: The 2026 Guide to Roth IRA Rollovers
One of the most common hesitations I hear from parents in the Chicago suburbs is the “What If” fear: “What if I save too much in a 529 plan and my child doesn’t use it? Is that money just trapped?” Until recently, that was a valid concern. If you didn’t use 529 funds for education, […]
The $20,000 K–12 Hack: Using Your 529 for Chicago Private Schools in 2026
In Chicago, where elite private school tuition can easily exceed the cost of a state university, the tax-efficiency of your savings strategy is paramount. As of 2026, a massive shift in federal law has created what I call the “$20,000 K–12 Hack.” If you are a North Shore or Western Suburb family navigating the costs […]
529 vs. Trump Account: Which “Tax-Free” Bucket Should You Fill First?
As a fiduciary financial advisor, the question I am asked most often this quarter is: “Where should I put the next dollar for my child’s future?” For years, the answer was almost always the 529 College Savings Plan. However, with the full rollout of the 530A Trump Account under the One Big Beautiful Bill Act […]
The “Trump Account” Era: How the New 530A Account Changes Saving for Your Kids
For decades, the “gold standard” for saving for a child’s future was the 529 plan. But as we move into the second half of 2026, a new player has entered the field: the 530A Account, more commonly known as the “Trump Account.” Introduced under the One Big Beautiful Bill Act (OBBBA), these accounts are fundamentally […]
Securing Your Child’s Future: Creative Ways to Save for College Without Breaking the Bank
Securing Your Child’s Future: Creative Ways to Save for College Without Breaking the Bank Saving for your child’s college education is one of the most significant financial goals for families, but it doesn’t have to be overwhelming or break the bank. With strategic planning and creative savings methods, you can make higher education more affordable […]
Financial Advisors’ Top Tips for Building a Strong Education Fund
Financial Advisors’ Top Tips for Building a Strong Education Fund Saving for your child’s education is one of the most meaningful financial goals you can achieve. With college costs rising steadily, having a well-thought-out strategy is essential. A fiduciary financial advisor can help you navigate the complexities of education savings and provide personalized solutions to […]
The Ultimate College Savings Checklist: Set Your Family Up for Success
The Ultimate College Savings Checklist: Set Your Family Up for Success Saving for your child’s college education can feel overwhelming, but it doesn’t have to be. With proper planning, the right tools, and a clear checklist, you can ensure your family is financially ready when the time comes. By working with a fiduciary financial advisor, […]
How to Avoid Common Mistakes When Saving for Your Child’s Education
How to Avoid Common Mistakes When Saving for Your Child’s Education Saving for your child’s education is one of the most important financial goals you can set. However, even well-meaning parents can make costly mistakes that impact their savings. Whether it’s not starting early, choosing the wrong savings vehicle, or underestimating the cost of college, […]
Maximizing Tax Benefits While Saving for College: What Every Parent Should Know
Maximizing Tax Benefits While Saving for College: Essential Strategies for Parents Saving for college is a significant financial goal, and leveraging tax benefits can make a huge difference in achieving it. From 529 plans to Education Savings Accounts (ESAs), there are multiple tax-advantaged options designed to ease the financial burden of education costs. Understanding these […]