Monthly Archives: November 2019

Avoiding 529 Account Pitfalls

The South Carolina Future Scholar 529 plan is an excellent way for parents to save for college, but there are some important rules to understand in order to ensure that you make only “qualifying “ distributions, so that you don’t have a surprise tax liability. Time Distribution First and most importantly, make sure that you time…

Continue Reading
Teaching your young adult to be financially responsible – A tutorial on cash management for a college kid

My son recently turned 18, so we transferred his UGMA (uniform gift to minors account) into his own name.  But with money comes responsibility.  I told him that he must now balance his checkbook and debit balance each month.  He replied in quintessential teenage speak that, “kids now just look everything up on line.  No…

Continue Reading