The idea of having children can be sweet when you think about all the special moments like the cuddles, hugs, and kisses. But the reality of having children is that they are a huge responsibility, especially regarding your finances, as a recent estimate says caring for a child costs $300,000.
by Matin VarshochiProviding financial stability for their children is typically the main priority for parents; especially, as children start approaching a certain age where they can fully understand how to utilize their assets and funds best. However, choosing what type of account would best benefit your child’s future can be challenging.
by Matin VarshochiA Uniform Gifts to Minors Act (UGMA) is an investment account for minors, allowing adults to give or transfer assets into the underage person’s account to help them save for college or be financially independent.
by Matin Varshochi