Ever wondered how to secure a bright educational future for your children without compromising your own financial well-being?

Join Melissa Joy, CFP®, CDFA®, and her insightful colleagues Lucy Valandra, CFP®, and Alexa Kane, CFP®, CDFA®, AIF®, as they share personal stories and helpful tips to make the college savings process smoother.

Lucy starts off with her heartwarming journey as a new mother to twin boys and the proactive steps she's taking toward their education savings. Meanwhile, Alexa, balancing life with two boys and a baby girl on the way, breaks down the many benefits of 529 plans—from tax advantages to their flexibility. Together, they discuss how dedicated college savings can provide both financial security and peace of mind.

We'll also explore the broad possibilities of educational funds beyond traditional four-year colleges, touching on trade schools, community colleges, and even off-campus housing.

Alexa dives deep into the critical balance between saving for college and securing your own retirement, emphasizing the importance of early and adaptable savings strategies. You’ll learn about lesser-known benefits of 529 plans, such as paying off siblings' student loans and redirecting leftover funds wisely.

This episode is packed with practical advice and personal anecdotes to empower you with the knowledge to make informed decisions about your children’s educational futures and your financial health.

Listen and Learn:

• 529 plans offer tax advantages and flexibility for saving for college
• It is possible to repatriate funds from 529 accounts for other purposes, such as retirement savings or paying off student loans
• How to find a balance between saving for college and retirement is important

Resources:

• Connect with Alexa on LinkedIn
• Connect with Lucy on LinkedIn
• Listen to the College Savings Webinar here

Links are being provided for information purposes only. The information herein is general and educational in nature and should not be considered legal or tax advice. Tax laws and regulations are complex and subject to change, which can materially impact investment results. Pearl Planning cannot guarantee that the information herein is accurate, complete, or timely. Pearl Planning makes no warranties with regard to such information or results obtained by its use and disclaims any liability arising out of your use of, or any tax position taken in reliance on, such information. Consult an attorney or tax professional regarding your specific situation. Please note, changes in tax laws or regulations may occur at any time and could substantially impact your situation. Pearl Planning financial advisors do not render advice on tax matters. You should discuss any tax matters with the appropriate professional.

Discover the unique financial landscape of child-free living with Dr. Jay Zigmont, a CERTIFIED FINANCIAL PLANNER® and founder of Child Free Wealth. Together with Melissa Joy, CFP®, CDFA®, they unpack the nuanced financial strategies tailored for those who choose not to have children. From rethinking the legacy you leave behind to understanding long-term care planning without relying on the next generation, Dr. Zigmont offers profound insights that challenge conventional financial wisdom.

Explore the complexities of long-term care insurance and the critical timing for acquiring coverage, especially for child-free individuals. They delve into the cost implications, the necessity of standalone plans, and the crucial role of early planning in supporting aging parents without jeopardizing your own financial stability. Dr. Zigmont sheds light on Medicaid’s limitations and the importance of setting boundaries to avoid financial strain.

In a world increasingly leaning towards living child-free, they discuss the multifaceted reasons behind this choice, including financial, political, and environmental considerations. Embrace the growing trend and learn how to navigate life and financial planning without children. Featuring insights from Dr. Zigmont’s book, "The Child Free Guide to Life and Money,” they emphasize the importance of recognizing and respecting diverse family structures.

Listen and Learn:

• How child-free individuals need to plan for end-of-life expenses, such as long-term care insurance, as they may not have children to rely on for support.
• Why estate planning is crucial for child-free individuals to ensure their wishes are carried out and to designate someone to make decisions on their behalf.
• The reason why child-free individuals have the advantage of being able to optimize their spending and make life decisions without the financial constraints of raising children

Resources:

• Learn more about Jay on his Website
• Connect with Jay on LinkedIn
• Buy his books on Amazon

Links are being provided for information purposes only. The information herein is general and educational in nature and should not be considered legal or tax advice. Tax laws and regulations are complex and subject to change, which can materially impact investment results. Pearl Planning cannot guarantee that the information herein is accurate, complete, or timely. Pearl Planning makes no warranties with regard to such information or results obtained by its use and disclaims any liability arising out of your use of, or any tax position taken in reliance on, such information. Consult an attorney or tax professional regarding your specific situation. Please note, changes in tax laws or regulations may occur at any time and could substantially impact your situation. Pearl Planning financial advisors do not render advice on tax matters. You should discuss any tax matters with the appropriate professional.

Description:

Have you ever felt the frustration of miscommunication straining your personal or professional relationships?

In this compelling episode of the Women's Money Wisdom Podcast, relationship and communication coach Joni Woods of Journey Coaching shares how she transformed her own communication struggles into powerful personal growth. Together with Melissa Joy, CFP®, CDFA®, they explore the vital roles of self-awareness and accountability, offering listeners practical strategies to elevate their communication skills and enhance their lives.

From navigating family caregiving challenges to tackling tough workplace scenarios, this episode reveals how letting go of assumptions can lead to better outcomes.

Additionally, we delve into the concept of personal money origin stories, uncovering how our early financial experiences shape our current behaviors and decisions. Tune in for this enlightening discussion and embark on your journey toward stronger relationships and greater financial wisdom today.

Listen and Learn:

• Discover why healthy communication is the foundation of strong relationships.
• Understand the importance of active listening and empathy in extending an olive branch and resetting communication lines.
• Learn how third-party mediators can play a crucial role in opening up dialogue and finding effective solutions.
• Explore how communication challenges can surface in diverse settings, from co-parenting to workplace interactions and family dynamics.

Resources:

• Learn more about Joni on her Website
• Connect with Joni on LinkedIn
• Follow Joni on Instagram

Links are being provided for information purposes only. The information herein is general and educational in nature and should not be considered legal or tax advice. Tax laws and regulations are complex and subject to change, which can materially impact investment results. Pearl Planning cannot guarantee that the information herein is accurate, complete, or timely. Pearl Planning makes no warranties with regard to such information or results obtained by its use and disclaims any liability arising out of your use of, or any tax position taken in reliance on, such information. Consult an attorney or tax professional regarding your specific situation. Please note, changes in tax laws or regulations may occur at any time and could substantially impact your situation. Pearl Planning financial advisors do not render advice on tax matters. You should discuss any tax matters with the appropriate professional.