Blake Anderson

Investment Advisor

Should I Give My Kid an Allowance?

All good parents want to help their children succeed. In my role as a Certified Financial Planner™, that usually involves helping parents establish college savings plans or helping grandparents plan out larger gifts as part of their estate plan. A few month ago however, I met with a parent who asked about giving their child an allowance, and I didn’t have a great answer at the time. As opinions on the topic can vary widely from, “your allowance is me allowing you to live here” to “my daughter has an allowance of $1,000 a week, is that too small?”, I decided to list out everything a parent should consider when answering the question, “Should I Give My Kid an Allowance?”

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What You Need To Know About Changes To Your Required Minimum Distribution (RMD)

Our government recently passed an update to rules regarding RMDs as part of the Secure 2.0 Act. This could be a big change for you. RMD stands for Required Minimum Distribution, which is the minimum amount that individuals must withdraw annually from their tax-deferred retirement accounts. These accounts include traditional IRA’s, 401(k)s, 403b’s, 457 plans

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