It’s the start of a new year, and the perfect time to plan ahead for this year’s gifts. Annual gifts are not only a great way to benefit your children or grandchildren, but also an opportunity to teach them smart financial management. When we last wrote about this topic five years ago, we discussed teaching this to teenagers. Many of those teenagers are now young adults just starting their careers and may have access to retirement plans provided by their employers. This opens additional ways that annual gifts or cash gifts can be used to help them to maximize their retirement plan benefits early in their careers.
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