Financial Partners Group

10/12/2026

Here's where the two accounts part ways, starting with who's in control. Trump Accounts are opened for a child, and the money stays locked up until January 1 of the year they turn 18. After that, it works like a traditional individual retirement account. The IRS in 2026 clarified that family, friends, and employers can contribute up to $5,000 per child per year, with employers capped at $2,500 of that.

A 529 runs on different rules. There's no federal cap on yearly contributions, though each state sets its own lifetime limit. The IRS says that a parent can contribute up to $19,000 per year ($38,000 for a couple) without any gift tax paperwork. Money can be withdrawn at any time for qualified education costs, and the earnings are exempt from federal tax.

#529

10/05/2026

Trump Accounts and 529s keep coming up in the same conversation. Both put money aside for a child's future. The similarity ends there. One is designed for educational expenses, but the other is open-ended. College, a first home, retirement, or anything else.

#529

08/28/2026

A financial plan can change over time, and so can the people and priorities that matter most. Regularly reviewing beneficiary designations is an important step in keeping your overall plan aligned with your goals.

08/24/2026

As we step into a new season, it's the perfect time to rediscover the benefits of annuities. Whether you're planning for retirement or managing your estate, annuities can offer valuable support in securing your financial future. Ready to explore your options? We're here to help you get started.

08/21/2026

Debt is a financial tool, and like any tool, how it's used matters. Knowing which debts to prioritize and how they fit into your goals can help you build a stronger financial future.

08/17/2026

Simply divide 72 by your expected annual rate of return, and you'll get a rough estimate of the number of years it may take for your money to double. It's a quick and easy way to understand the power of compound growth!

08/14/2026

A written financial plan can help turn goals into actionable steps. Whether you're planning for retirement, a major purchase, or the unexpected, having a roadmap can make the journey feel more manageable.

08/10/2026

Growing your financial knowledge starts with understanding the simple concepts that can make a big difference over time. Put your investing know-how to the test and share your best guess in the comments!

08/07/2026

Knowing your net worth can provide a clearer picture of your overall financial health. Tracking it over time can help you see your progress and stay focused on your long-term goals.

08/05/2026

Back-to-school season is bringing higher costs for many families.

A new analysis found that a typical basket of school items, including notebooks, lunch boxes, and index cards, is up nearly 8% compared with last year.

School lunches are also more expensive, with the cost of a typical packed lunch up 11%.

The analysis estimates families may spend roughly $4,000 per student on school supplies and lunches this year, including about $175 on school items and $3,800 on packed lunches.

Some items have seen especially sharp increases. Lunch boxes are up 27%, one-subject notebooks are up 23%, and index cards are up 22%.

Higher tariffs, imported school supplies, food prices, and energy costs are all contributing to the increase.

For families, back-to-school shopping is a reminder that seasonal expenses can add up quickly, especially when everyday costs are already stretching household budgets.

Source:

U.S. households will spend roughly $4,000 per student on school supplies and lunches this year, a new analysis found.