Weekend Reads: Helping your aging parents, tax breaks for dependent children, and more…

By: Kimberly Lankford

November 8, 2019

How to (gently) help your aging parents manage their money

Your parents may need help managing their finances as they get older, but it can be difficult to bring up the subject. This New York Times article tells the stories of several families’ experiences and includes expert advice for starting the conversation.

It’s going to be easier to make early 401(k) withdrawals, but should you do it?

New hardship withdrawal rules take effect in January 2020, making it easier to withdraw money from your 401(k) while you’re still working. This article explains the changes and the pros and cons of the new rules.

Veterans day discounts 2019, free meals, resources exclusive to veterans

Monday is Veterans Day, and the U.S. Department of Veterans Affairs’ blog has an excellent list of special discounts for servicemembers and veterans at restaurants, grocery stores, retailers and travel for Nov. 11 and the weekend.

How to pick the best 529 plan

Clear guide to 529 plans, including answers to frequently asked questions about these tax-advantaged college-savings plans and a list of Bankrate’s favorite plans. Helpful for parents and grandparents who are choosing a plan.

What’s a qualified higher education expense?

529 expert Brian Boswell explains in this Forbes article what expenses qualify for penalty-free and tax-free withdrawals from 529 college-savings plans — including some surprising expenses.

A parent dies, leaving you the house. Now what?

Dealing with the death of a parent is already a stressful time, and figuring out what to do with their house and possessions after they die can be overwhelming. This article in the Washington Post gives some clear advice from people who have experienced the situation. Covers legal, tax, real estate and personal issues.

Take a break

A great explanation at the HumbleDollar about several tax breaks for families with dependent children.

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