By now, you’ve filed your tax returns. If you’re like most of my clients, you’re feeling relieved. And you might be tempted to close the drawer on your finances. Don’t put them aside just yet. With taxes behind us, now is a great time to conduct a mid-year financial checkup. It’s not too late to make changes for 2023 that will keep you on track toward your goals. Here’s how.

Let’s say you want to drive from New York to California. You could point your car west and go. But more likely, you’d plan the route. You’d decide which roads to take and where to stop. You’d chart an itinerary to get you to your destination. Financial planning is like setting a roadmap for your life’s journey. Your money is like the car: a vehicle to get you somewhere. But do you know where you’re going? Do you have the plan to get there?

If saving for college keeps you up at night, you’re not alone. Private schools now cost close to $70,000 per year. Just looking at the numbers is enough to make my clients swallow hard. My top recommendation is a 529 Plan: an investment account that helps you save for higher education while offering significant tax benefits. It’s hands down the best savings vehicle for college. Here’s how to make the most of it. START EARLY...