7. FAMILY COMES FIRST
If you’re writing kids off on your taxes, it’s only right that you break them off with a little something for their troubles by investing in their future college education. You don’t want them falling into the same loan trap as you, right?
One easy way to do that is by setting up a tax advantage 529 savings plan. If you assign yourself as the beneficiary, the funds can be directed at any family member you choose should your kids not to attend college. And the best part? It all grows tax free — the government will never see a dime of that crucial nest egg.
