Good Financial Reads: And Baby Makes Three!

Following along with the blogs of financial advisors is a great way to access valuable, educational information about finance — and it doesn’t cost you a thing! Our financial planners love to share their knowledge and help everyone regardless of age or assets.

Catch up on the latest posts with this week's roundup:

The Good Tax News About Fertility Treatments

by Jason Harvey, Active Lifestyle Financial Planning

For whatever reason; pace of life, having kids later in life etc, few couples I know seem to be able to get pregnant without some amount of help. This seems to just be a fact of modern life.

As you can imagine, the cost of help with conception can vary greatly depending on what is required. Procedures start at a couple of thousand dollars and run up to the ultimate option which is In Vitro Fertilization or IVF. Based on a 2014 study, the median out-of-pocket expenses for a couple undergoing IVF was more than $19,000. IVF may take several cycles with the probability of success increasing with each round to around 90% by the third. Each cycle typically costs somewhere around $12,000. Many providers sell packages that allow multiple attempts for one up front price. In 2016 a three cycle package can be found for around $25,000.

The good news is with that level of medical expenses, you are likely to get some help from Uncle Sam via deductions on your income tax return. That’s right! Fertility treatments including IVF are a legitimate medical expense and can reduce your income tax bill.

[Read the Full Article]

Newborn Considerations

by Quentara Costa, POWWOW, LLC

Congratulations!! Now let’s get down to business.

There is often so much excitement, joy, and preparation for the baby’s first week home that we can forget about the big picture.  While there is no shame in hyper-focusing on sleep patterns, pumping and creating a beautiful birth announcement, there are some other newborn considerations to address.

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Saving Cash for your Toddler

by Charles Malsbury, ThinkPlanSave

If you’re a parent or grandparent wondering where to put cash gifts for your kids or grandkids, read on!

In this post I’m going to talk about the most common types of accounts used for saving for kids.

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4 Actionable Money Lessons to Teach Kids

by Alan Moore, XY Planning Network

Some people are born with the natural traits and abilities to be professionally successful entrepreneurs as adults. Most people are taught how to think like an entrepreneur for financial and professional success.

While kids don’t have to grow up to be entrepreneurs in order to have fulfilling, great lives, learning an entrepreneurial mindset can help no matter what career path they choose.

“Think like an entrepreneur” means understanding how to problem-solve, come up with innovative and creative solutions, learn from mistakes and use failures as learning experiences, and ask questions.

Kids who practice entrepreneurial thinking are curious, empowered, and excited about new opportunities to learn and test skills. These are wonderful attributes to carry into adulthood, where that can translate into an ability to earn money on their own, create a satisfying career, and understand the importance in investing in their own knowledge and skills.

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