Thinking ahead about how investing can support financial goals is the purpose of planning. Naturally, there’s lots of talk about common planning targets: retirement and college. But there’s also consideration of how to achieve multiple goals at various stages of life — whether covering basic needs or leaving a legacy — and how taxes and tax planning could impact results. Articles in the planning category allow you to clarify how today’s decisions can impact efforts to grow, manage, and maintain wealth.

College Savings: Three Accounts to Consider

When I started saving for my children’s education, 529 Plans weren’t yet introduced. So I saved within a UTMA/UGMA and then a Coverdell Education Savings Account. Each type of account seemed to have advantages and drawbacks. I wanted to save more for college in a designated account. But I had heard (more than once) that parents can’t borrow money for their retirement in the way that children can borrow for their education.

Eventually I came to realize that just because my retirement is a financial priority doesn’t mean I couldn’t set aside some money for my kids’ education. Even if though I didn’t save for the entire college experience — tuition, fees, room, board, books, study abroad, etc. — what I tucked away was extremely useful.

Investing Lessons from The Wolf of Wall Street

When I heard about the movie The Wolf of Wall Street, I was excited and intrigued. I anticipated that this movie would offer an insider’s view of Wall Street, specifically about the investment business.

First, I was disappointed (and a bit freaked out) by the adult content of this movie. I should have known something was amiss when my teenage son questioned my selection of this movie, which I borrowed from the library. For now, though, I am going to focus on the story and its valuable lessons.