Category: Working Parents

The total cost for a 4-year degree will be more than $205,000 by the year 2030. That will be the year that kids born in 2012 turn 18 years old. If your kids are born later, expect a higher price tag.

The best investment for a child is one that starts as early as possible. Investing for kids now is how to build a fortune for your child’s future education.

Read on to learn all about the best investments for children and how you can get started.

529 Plans to Invest for Kids

All US states offer a 529 savings account. You can even enroll in 529 plans from other states. Make sure you look into the lifetime contribution limits on your plan, so you know how much you can put away.

Every year you are able to deposit funds up to the set annual limit without being dinged with a gift tax. For 2018, that limit is $14,000 for each child. However, if you and your spouse file a joint tax return, you can double that number per child.

If you have the money, you might want to make a large lump deposit now that is equal to 5 years’ worth of contributions. In other words, you could add $70,000 to your child’s 529 plan today if you wanted.

This is a good option if you have the cash and want your money to start growing as soon as possible. But that means that you won’t be able to add any other money until 5 years from now.

One of the best features of this type of investing for kids is that withdrawn money is not taxable if it is used for education. You can use the balance of your fund for any type of tuition including private school from kindergarten to grade 12. Check out these 5 tax refund tips to get the most out of your money.

The majority of 529 savings plans allow you to invest your contributions through mutual funds. You’ll be able to choose what you want to invest in this way. Yet, if you want to invest in other things besides mutual funds, you can do that as well with a 529 plan.

How to Open A 529 Savings Plan

The first (and hardest) part of getting a 529 plan is choosing one. There are over 100 plans available. This is the simplest way to stop delaying and get your plan up and running.

Choose between a savings or prepaid plan or get both.

Savings plans are similar to 401K plans. There is investing in stocks, bonds, as well as other securities.

Prepaid 529 plans are like pension plans. they grow at a guaranteed rate and are often limited to people who reside in that state.

You might decide to get both kinds of plans and divide your contributions between the 2 accounts.

Next, pick either the in-state or out-of-state plan. Often, it’s wiser to get the in-state savings plan if you have a state tax benefit. Use this state tax calculator to see how much your tax benefit is worth.

Finally, compare costs and investment options for the plan you are considering.

Don’t be overly concerned with past performance of a plan. Look for a plan with low costs. Websites like collegesavings.org can help you compare plans.

Don’t get hung up on trying to find the absolute best investment plan for your 529 savings plan. The most important thing is to open a plan and start saving right away. You can always switch to a different plan later on if you want to.

Now, let’s check out other investment plans for kids.

Retirement Accounts

It may feel strange to think about your child’s retirement when you’ve got a baby or toddler at home. Yet, the sooner you start saving for retirement, the better.

Besides, retirement accounts can be used to pay for college as well as other big life expenses. And no, you won’t have to pay taxes on your withdrawals as long as you take out your contributions and not earnings.

Let’s pretend that you have invested $2000 every year for the past 3 years. You can go ahead and take out $6000 without any penalties and without having to pay taxes.

As soon as your child begins working, he or she should have an individual retirement account. Let’s look at custodial individual retirement accounts, next.

Custodial Individual Retirement Account

Custodial IRA can be created in your child’s name. The funds in the account belong to the child but as the parent, you control the assets until the child is an adult.

The age when a child gains access to the account is either 18 or 21 depending on which state you live in. These accounts are often managed at a bank or brokerage.

There are 2 main custodial accounts that prominently used for saving for post-secondary education. They are the Uniform Gift to Minors Act (UGMA) and the Uniform Transfers to Minors Act (UTMA).

Both of these accounts are irrevocable. Don’t deposit any money into either of these that you might need in case of an emergency.

You won’t be able to get it back. Instead, check out stock loan rates to learn about how to get access to funds when you need them.

Both of these do not have contribution limits. They are subject to Kiddie tax as the child includes this account as income on his or her tax returns each year.

UGMAs include securities such as stocks and bonds. On the other hand, UTMAs may include physical property like real estate and fine art.

Grandparents and others can add money to these accounts as gifts. Keep in mind that the most one person can gift a child per year is $14,000.

Note that when the child is not a minor, he or she does not have to use the funds in these custodial accounts for education.

Certificate of Deposit Ladder (CD)

Now that we’ve looked at 2 types of investments that are subject to market fluctuations, let’s examine an investment plan that has less risk.

A CD ladder means buying several certificates of deposit, all with varying maturity dates and interest rates. When one CD matures, you divert that money into a new CD. You keep doing this until you want to use the money you’ve saved.

Since it’s easy to estimate your earnings, you are able to plan for the future with a good amount of certainty.

This option is great for people who want to play it safe or want to avoid having all their eggs in one basket. You won’t earn huge returns with this method, yet it is a long-term savings plan that works.

How to Open a Certificate of Deposit

Opening a CD is similar to opening a bank account. First, you need to choose an insured financial institution. That way, if the bank or credit union fails, their insurance protects you up to the maximum that is legally allowed.

Then, you choose a type of CD. There are many kinds to choose from.

After that, select your term length. The longer the term, the higher the interest rate you’ll earn. It’s in your best interest to select CDs that mature well in the future.

You will also need to choose how you want to collect your interest payments. You can get it monthly or once a year.

It’s best if you don’t rely on this payment as part of your income. Make sure you build a personal monthly budget that works for you.

The wise thing to do is to reinvest the interest into the CD to earn even more interest. Once the CD reaches the end of the term, you’ll get the amount you deposited plus the interest your CD accumulated.

You will need your SSN and other forms of identification to open up a CD (same as you would need when applying for a bank account or credit card).

Also, choose how you want to deposit money into the CD account. You can choose to mail a check or transfer the funds online or by phone.

Teach Children Financial Literacy

One of the best ways you can invest in your child’s future is to teach them how to manage their money wisely.

With the majority of Americans in debt, teaching kids about smart spending and being financially savvy is vital for the future of the country.

There are lots of great resources to help you teach your kids financial literacy including lots of resources about money on MyMoney.Gov

Instead of giving kids what they want, give them an allowance and help them learn how to save up for what they want. Or help them start earning money by doing chores, dog sitting, raking yards and babysitting.

Even though as a parent you want to give your kids every advantage, it is important for them to learn how to take responsibility for their financial freedom in their youth for a bright future.

Final thoughts on Investing for Kids

Thanks for reading! We hope you found this article on investing for kids’ future helpful. Remember, the sooner you get started, the better.

Now, take a look at these 3 expert money saver tips you need in your life.

The global marijuana industry is poised to hit $31.4 billion in sales.

Are you a stay at home mom who wants to break into the marijuana industry? You’re not alone.

And it’s easier than you might think.

While most of your friends might be shilling make-up and other hustles, you can break into the weed industry as a stay at home moms.

In this article, we’ll detail some of the ways you can break into the multi-billion dollar legal weed industry with an incredibly flexible schedule.

Stay at Home Mom Job: Freelance Writing

Were you great at English in school? Do you have a few clippings here and there?

You could work as a content creator for a local dispensary.

Many companies are turning to content creation and SEO (Search Engine Optimization) to ensure their sites rank higher than anyone else’s. In turn, you have a lot of people wanting content creation. Weed dispensaries are no different.

You can contract with a local weed dispensary or a third party that writes articles for the dispensaries. You might be well on your way to writing copy about marijuana all day long.

Graphic Design

Many dispensaries are starting to have a pretty pronounced web presence. This is because many of them can sell specific items online. CBD oil, for example, which lacks THC, is legal in all 50 states. As a result, they can ship it anywhere in the US.

You can find examples of this on Medical Marijuana Inc’s website.

Because of this, many need a good graphic designer to help get their website up and running. If you have previously worked as a graphic designer, or you’re a whizz at Photoshop, this is a great way to get your foot in the door of the marijuana business.

You can spend your days creating logos for a variety of web presences, but you may also be called upon to help brand marijuana products themselves.

As dispensaries become legal, more and more individuals want their logo and product noticed. As a result, they may need graphic designers to help create logos and artwork for the products.

You could be the next brand designer for a potentially huge and iconic marijuana dispensary or business.

Social Media Manager

Are you a social media whiz? Did you work in social media before you had kids? If so, this might be a great fit for you.

As mentioned previously, many dispensaries want to up their web presence. This includes not just websites but also connecting customers through social media.

If you know how to get, maintain and engage a following online, this could be the role for you. You might be able to grab customers for your local dispensary, and slowly climb up the ranks.

Distributors

If you have experience in the corporate world, you could become a distributor for wholesale marijuana or CBD companies.

For those who already have the skillset, it can be a lucrative job from the comfort of your own home. Though typically, it may require a little bit of traveling each day.

Distributors are responsible for ensuring that local dispensaries get the products they have ordered from a wholesale weed company. This may include strains of bud, bongs, edibles, budtender training, and other paraphernalia.

Although the job is more like a regular 9 to 5, you’ll still be getting a big slice of the marijuana pie. You’ll have duties like managing the books, creating invoices, making sure companies have paid for their products, attend marijuana conventions to inform the wholesaler about new products and recommend new items to dispensaries.

This is a great way to marry your love of marijuana with your desk job skills.

Promoter

While a marijuana promoter might sound a bit shady, it actually is pretty run-of-the-mill when you dissect it.

There are many ways you can promote marijuana growing, and one is by helping with the regulation of the industry. There are organizations dedicated to ensuring that an industry of organic marijuana exists so that the products can be USDA certified when the government allows it.

A promoter educates growers on how to ensure their plants are clean and safe and helps begin the standard for organic marijuana.

They also discuss the opportunity to join the program with budtenders and those who are working independently. They often receive a cut of the memberships to the organization they sell.

In most instances, aside from education, they will be prompting budtenders to adhere to a specific standard to ensure their marijuana will be labeled as organic.

Business Consultant

Before you had kids, were you working in the corporate world? Do you have a keen eye for business and what business owners need? If so, working as a freelance business consultant could be a great way to earn a living.

The marijuana business is very new. As such, not everyone who is opening a business knows exactly what they’re doing. They may be so swept up in the fact that they get to legally sell weed that they’re not making good business decisions.

As a business consultant, you can help individuals get set up. You can help with everything from infrastructure to the legal ins and outs of running a business. You can help a new dispensary with everything from filing taxes to hiring the right people to training them.

As a business consultant, you’ll work with dispensaries at the ground level and then help them grow their wings and fly on their own. As the business is so incredibly new, many people will need guidance at the beginning.

Working For Stay at Home Moms

Working as a stay at home mom can prove challenging, no matter what industry. While you may get to be home with your kids the majority of the day, you’ll still need to put in a full day’s work. This can be a bit challenging for some individuals. Still, the flexibility it offers is often second to none.

And, you can merge your love of family with your love of marijuana, which is the best of both worlds.

For more tips on earning money as a full-time mom, visit our blog.

If growing your career often requires you to check your bags and add to your frequent flyer miles, you’re in good company. Thousands of career women jet set from one side of the country to another for meetings and conferences.

Although traveling for your job can be an exciting alternative to sitting in an office all day, it doesn’t come without its risks. Women, in particular, are more likely to be at risk when traveling solo. And though we wish it wasn’t so, it’s necessary to take certain precautions as a female traveler.

To make the most of your travels, and feel more comfortable doing so, here are 5 safety tips for women who have to work remotely:

Do Your Research

Before you visit a new area, make sure you understand the local customs and laws. Some gestures carry different meanings in other regions and you don’t want to offend anyone.

Take the time to research religious or political events that are happening during your visit. By having an idea about your surroundings, you’ll be better prepared and able to decide which areas to avoid and which events you might want to attend.

Share Your Schedule

Before you leave on a work assignment, let a trusted friend or family member in on your schedule. Tell them where you’ll be staying, who you’ll be with, and how they can contact you.

Keep in mind that your cell phone service might not always be great, so it’s good to share all the details you can in case of an emergency.

Use Technology to Help You

Keep a copy of important documents such as your driver’s license or passport on your phone in the cloud. This way you can still access the information should you lose your bag or wallet.

Apps such as “Find My iPhone” are useful in locating your phone if you lose it.

Safety Tips for Women Including Exuding Confidence

If you become lost, try to keep your composure and not appear scared or vulnerable. Maintain a confident energy so that you don’t come across as someone who can be taken advantage of.

Potential attackers look for women who appear busy, inattentive, intoxicated, or vulnerable. Be careful about who you accept help from. If you do get lost or need help, seek out a nearby business owner or law enforcement officer.

Protect Yourself with Self Defense Products

Basic safety while working remotely includes the use of self-defense products. These include pepper sprays, stun guns, hidden camera, tasers, and more. Suppliers such as “TBOTECH” carry a full range of self-defense products to help you travel in safety.

Learn More About Smart Traveling

Now that you’ve learned some of the most important safety tips for women who travel, can you think of any others we’ve forgotten? Let us know in the comments below!

Also, be sure to check out these other great articles with advice for traveling smart, whether it’s a solo trip, a family trip, for work or for pleasure!

Going out into the job market can be a frightening experience.

Who’s hiring? What kind of jobs are you qualified for? What do you want to do?

Thankfully, it can be easier than you would imagine to find your perfect job.

Use these ten tips to help you get into the career of your dreams.

1. Know What You Want

The best advice to find your perfect job is to really know what you want. Not just what you want from a job, but from everything.

Do you want to travel? Start a family? Work remotely?

By setting out what you’re looking for in life you can eliminate fields that don’t allow you to pursue it. Listing out the things you’re passionate about is another great way to find things you would enjoy doing.

2. Research, Research, Research to Find Your Perfect Job

Once you know what you want, find a field that fits. Look at reports of working conditions, pay, work-life balance and as many other factors as you can.

To find your perfect job you need to know exactly what a potential position is going to be. You don’t want to end up in a situation where you take a new job and discover that the work isn’t what you expected.

3. Play to Your Strengths

Everyone has things they’re good at. The best way to find your perfect job is to make a list of your strengths and compare them to the things you want from life.

Tally up all the certifications, degrees and professional accomplishments you have. These can help you determine what kinds of positions you’re qualified for.

Once you’ve figured out what you want and what you can do you’re perfectly prepared to identify careers and fields that would fit your needs.

4. Never Stop Learning

The job market is changing faster than ever before. New technologies are constantly disrupting decades-old fields and making entire career categories obsolete.

Constantly seeking out new knowledge and skills is the best way to ensure lifelong success. Keep an eye out for new developments in your field and always try to find ways to develop.

If you’re trying to find your perfect job, identify someone who you look up to in that field. Find out what kinds of skills they have, the techniques and tools they use and learn to use them yourself.

As an added bonus, most successful companies love employees who constantly want to learn and improve.

5. Don’t Get Overwhelmed With Choices

If you want to change career fields or are just starting out it can seem like there are limitless possibilities. For a lot of people, this isn’t always a good thing.

Having too many choices available to you can make it seem impossible to make a decision. What if you make the wrong choice?

Try to narrow down your search as quickly as you can. You know what kind of life you want to lead and what your strengths are. That should give you a pretty good idea what kind of careers you want to pursue.

6. But Don’t Lock Yourself In

Don’t get overwhelmed, but make sure you aren’t shutting yourself off from new opportunities. If you find something you really want to pursue you should consider it even if you aren’t 100% qualified for the position.

Balancing these two considerations is the best way to find your perfect job. You don’t want to spend too much time looking at possibilities but you definitely don’t want to pass up something you could excel at.

7. Polish Your Image

As sad as it sounds, to hiring managers and recruiters you are nothing but a resume and a LinkedIn page. Making sure these look their absolute best should be a top priority.

You should always keep your digital presence up to date and looking sharp. LinkedIn is the first place recruiters will look when searching for qualified candidates. If you haven’t added relevant experience you could be missed.

Hiring managers spend about six seconds looking at a resume. That’s how long you have to catch their interest with your resume. If writing isn’t your strong suit it can be worth every penny to hire a professional resume writer.

8. Network, Then Network Some More

It’s impossible to overemphasize the importance of networking to your job hunt. Almost 70% of people who got a new job in 2016 had a connection at the company.

The old saying, it’s not what you know, it’s who you know has never been truer than today. You should take any chance you get to network with your peers or with thought leaders in a field you’re interested in.

If you can work remotely, coworking spaces can be a great place to network. You should definitely find out more about coworking if you never want to go to an office again.

9. Practice Your Interview Skills

Getting your resume read and receiving a call is just the first step in your quest to find your perfect job. Once you’re in you have to ace the interview.

Make sure you’re presentable, well spoken and have all your ducks in a row. Arrive early, but not too early. Research the company you’re applying to and find out what they’re looking for in candidates.

If you can, have a friend or even a professional give you a mock interview to test out your responses and reactions.

10. Know What You’re Worth

So you’ve been offered a position and are down to the brass tacks of pay and benefits. Receiving the compensation you deserve is just as important as finding the job.

Do as much research as you can before the meeting. Find out what the position you’re being offered is worth on an industry-wide basis. GlassDoor is a great resource for this.

Don’t be afraid to make a counteroffer. Hiring managers usually have the ability to work with you to an extent. Just make sure what you’re asking for isn’t unreasonable.

Remember to Breathe

Not getting a call from that perfect company or a second interview can feel like the end of the world. Always remember that even if you didn’t get the job there are hundreds more like it waiting for you.

You can learn more about work-life balance, working from home and finding your perfect job by checking out the easy-to-follow tips found here.

When you’re looking for work and you make an impression that lasts, it moves you to the top of the list.

What makes it so hard? You only have 7 seconds to get it right.

Making a great first impression is a challenge, but it’s doable. Here are ten reasons you need to make an impression that people respond to–and tips for getting it right.

1. Getting the Job You Want

It doesn’t matter whether you’re looking for permanent, freelance, or casual work.

You need to make an impression which makes you unforgettable. This doesn’t mean being quirky or weird just so they remember you!

They want to know they can rely on the person they’re hiring. It’s a bonus if you can also make sure they perceive you as a friendly person too. Smile and greet them with a firm handshake every time.

2. Show You Can Manage Your Time

Don’t be late. If you’re late to an interview, this will negatively affect the opinion of 96% of hiring managers.

If you live in a busy city, that’s no excuse. Turning up late shows you didn’t think about traffic or the risk of a late train.

Turn up 30 minutes early if you can. Grab a coffee and take a walk around the neighborhood to mentally prepare for your interview.

3. Body Language Says It All

Your body language says more than you’d like it to sometimes.

Stand upright and go for a firm handshake. Always meet your interviewers’ gaze and smile.

If you don’t do this, your body language could be misinterpreted as disinterest. Slumped shoulders, fidgeting, or staring around the room could lose you the opportunity to make an impression and land the job.

Always be aware of how you hold yourself. Make sure you’re not inadvertently sending the wrong message.

4. Dress to Impress

For most interviews, you’ll need to dress smart to make an impression. In many circumstances, this means a suit or business attire.

Still, do your research. If you’ve found out that a company has a fairly relaxed atmosphere, you might go with a button-down shirt and smart-casual trousers instead.

Be careful of appearing too casual, though. If you dress down too much, what you’re really saying to the interviewer is, “I don’t care about this job.”

Playing it safe is almost always the best option.

5. Think About What You’re REALLY Saying

Like body language, the words you speak often have more than one meaning. They can also reveal things you didn’t necessarily intend.

Half the battle is knowing what questions you’re really being asked. For example, if the interviewer asks you about a time you messed up, they don’t really want to hear about the time you missed two deadlines in a row.

They want to hear about what you did to make the situation right. More importantly, they want to know how you prevented yourself from making the same mistake again.

6. Make an Impression So People Trust You

Making a good impression is all about getting people to trust you. The signals we send tell other people about how much they can trust us.

Being trusted is always important, but even more so in certain professions. For example, let’s say you’re interviewing for a Skin MD MD laser skin care position (or another position in the medical profession).

The level of responsibility is much higher than some other professions. It’s crucial you get the other person to trust you during the interview.

7. Positive People Make a Positive Impression

Projecting confidence to make an impression really works.

Be upbeat, positive and friendly. Your CV may make an impression too, but no company hires people on the strength of a resume alone.

It’s important to show your enthusiasm and speak about specific things you’d like to achieve in the role. This shows you’ve given some thought to that particular job and you’re not just rambling off a script.

8. Be Personable But Not Overly Friendly

We’ve talked about being positive, both in terms of spoken language and body language.

But now comes a word of caution about where to draw the line. You’re not best friends with the interviewer. You’ve probably never even met them before.

Don’t be overly friendly or too familiar. This can kill your chances as quickly as seeming disinterested. It comes across as rude and presumptuous.

By all means, have a friendly chat, but be very careful about what you talk about.

9. Remember You’ll Be Working with Your Interviewer

The interview process isn’t just about testing your knowledge.

Even if you’re perfect for the job in terms of your experience and qualification, personality matters. The hiring manager wants to know that there aren’t obvious clashes between you.

Be professional and friendly, and try to connect with them on a human level.

10. Relax

If you’re stressed out and nervous, your body language will give this away.

Remember what we said about body language earlier? Try to relax and bear in mind that at the end of the day, your interviewer is just a person too.

If you can make an impression on them as a person (not just a potential boss), you’ll go a long way.

Still Looking for a New Job?

It can take a while to find the right job. Don’t stress about it.

Sometimes you’re just not the right fit for a company. Try not to take it too personally.

While you’re waiting to make an impression, we know money can get a little tight. Why not browse our selection of printable coupons to save yourself a few dollars?

We’ve also got loads of frugal living tips to help you stretch your cash until you land the perfect job.