Family Finances

The Only Time You Should Consider Buying A Vacation Property

I’m on record saying that buying a vacation property is a suboptimal investment. But that’s also because I bought a vacation property in 2007, right before the market really took a dive. This post will discuss the only time you should consider buying a vacation property if you insist on not taking my advice. Perhaps […]

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Everything To Know About The 529 College Savings Plan

The best gift any parent can give a child besides unconditional love is a great education. A 529 college savings plan is a solution that is designed to help families tax-efficiently save for future college costs. You contribute after tax money with the benefit of paying zero federal and state income taxes on the profits when

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Child Millionaires: Not Necessary Thanks To Canceling All Student Debt

One of the things many responsible parents are doing today is saving for college, usually in a 529 plan. Not saving for college and expecting a student loan bailout in the future is bad planning. The same goes for not saving for retirement and hoping the government will take care of you once you can

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The Definition Of American Prosperity Needs An Adjustment

There’s a common joke here in the SF Bay Area. How do you know someone went to Stanford? They’ll tell you within the first couple of sentences. We Americans have a tremendous desire for status and prestige. When we work hard for something, it’s our second nature to tell everybody about our achievement. You do

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Perhaps Bribing For Admissions Starts In Preschool

March 12, 2019 is a day I’ll never forget. Not only did the college admissions bribing scandal break that morning, we found out our boy got waitlisted by two preschools. Waitlisted is really just a euphemism for rejected. The first preschool was a Mandarin immersion preschool I’ll call PooPoo about 20-25 minutes away. We had

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The Wide Implications Of The College Admissions Bribery Scandal

Thanks to the fantastic work by the Department Of Justice and the FBI we have learned the average bribe it takes to buy your kid’s way into an elite private university is between $250,000 – $400,000. Although, some bribe amounts went as high as $6 million. The 10-month-long investigation, code-named “Operation Varsity Blues,” uncovered large

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