In a normal year, many people would be right in the middle of back-to-school preparations — sales, planning, shopping. But what if you don’t know where or how your kids will be going back to school, let alone what supplies they’ll need?
Two-fifths (40%) of parents with children in K-12 or college anticipate their children will be attending classes in a hybrid environment (both in-person and remote) in the fall of 2020, according to a new NerdWallet survey. Planning for multiple scenarios could result in the need for increased back-to-school spending, but many may not have the extra money this year.
For tips on how to get what you need and stay in your budget, read How to Save Money on Back-to-School Shopping in Uncertain Times.
Check out some other stories on TheStreet’s Personal Finance section about safety and mobile payment apps, tricks to maximize your credit score, and things investors need to remember about gold’s amazing run.
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And on Retirement Daily
This week, in Robert Powell’s Retirement Daily on TheStreet:
Guest contributor Jim Blankenship explains how 2020, extraordinary in many ways, appears to be an optimal year for Roth conversions. There is a “perfect storm” of factors that have come together in 2020, making a Roth conversion an excellent move for many savers. These factors include: The recent passage of the SECURE Act, with its changes to beneficiary distributions; the waiver of required minimum distributions (RMDs) for 2020 with the CARES Act; plus the fact that we’re living with the lowest tax rates in recent history. Add in the possibility of reduced valuations in IRA and 401(k) accounts due to market losses, and the scene is set for some significant activity in the Roth conversion arena.
Financial planners offer words of wisdom to those who plan to offer financial support to their family.