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Parents “gaming the system” to take advantage of educational opportunities for their children that were meant for other children.This includes things like:Lying about where the child lives in order to get into a different school district.Lying about a child’s symptoms in order to get that child a “special education” label, which would allow them more time on standardized tests.Hiding their income or marital status in order to get need-based grants and scholarships for their children.Here’s a story about the first one, where some parents actually got caught:Suburbanites Who Lied About Addresses To Get Into Elite CPS Schools Now Have To Pay Back Thousands: ReportMany more don’t get caught. The problem is that there are really good schools, and really bad schools, all within driving distance of each other. What makes the schools good or bad isn’t funding, but the neighborhoods and home lives from which the majority of the students come. I put that in bold because someone is going to comment something like, “why can’t all schools be funded equally so they get the same results? Why are there such bad, under-funded schools?” Because no matter how well you fund a school, if a significant percentage of students at that school don’t care about their education, the whole school is going to suffer. Parents who do care about their children’s education avoid those schools at all costs.The best schools in Chicago are “magnet” schools that pull in the best students from the city, but priority is given to students in low-income areas. It’s cheaper to rent an apartment in a low-income area and claim you live there in order to get your kid into the best school, rather than risk not getting into that school and having to pay for private school. For many parents, the local non-magnet high school simply isn’t an option.The best suburban school districts have inspectors that will come to verify that people actually live where they say they live.When it comes to special education, schools are required to abide by a student’s “individualized education plan,” or IEP. The most common IEP requirement is for “extended time on tests.” Some parents will lie about their child’s symptoms, or coach their child about what to tell the doctor, just to get that one specific modification. Why? Because more time=better chance to score well on tests=better college options and more grants and scholarships.This was actually one of the ways those wealthy families cheated the college admissions process that made the news earlier this year:'A gut punch': How the college admissions scandal hurt families with disabled studentsAnother way to make college more affordable for your child is to be a single, low-income parent. On paper, at least. If you’re the stay-at-home half of an upper-middle-class couple with children, the smart move, financially, is to not get married. When it comes time to apply for college, if you can say that, legally, you’re a low-income single parent, then your child will qualify for all kinds of financial assistance that they wouldn’t get if they were the child of a married couple that made so much money that one of them didn’t have to work.With the rising cost of higher education, and the widening gap between the quality schools and the sub-par schools in the country, it’s really no wonder so many parents adopt an “every man for themselves” mentality to education. It’s easy to talk about sweeping educational reforms that might make things better within a decade or so, when your child isn’t currently in the education system. But, when it’s a school night, and you know your kid has to go back to a school that is failing them the next day, you start to look around for more immediate options.

Like any service, it depends on the value and benefits you get for the service, the quality of the service, and the price.In saying that, the value that financial advisers deliver by managing your investments and selecting the correct securities for you is often not worth the price they charge. Sometimes the value of managing investments is negative if the financial adviser is picking a high commission financial product that underperforms because of the commissions paid out of the return to the adviser.So I wouldn’t be too upset if your adviser is letting you do the legwork on the financial plan.The real value is in the plan (how much to invest, what types of investments, and what types of accounts), and in the execution of the plan (making sure you actually deposit the check into your investment account and buy the correct investments). A good financial planner will also stay updated on changes in your life so your plan is updated as your life situation changes.You meet with a financial adviser and discuss your financial situation. Of course you get a financial plan. A good adviser also provides you with the following.Hypothetical Example:Your adviser suggests you open a 529 college account for your kids and recommends an annual contribution of $5000 to an age specific college account. The adviser even names a specific balanced target mutual fund for you to invest in.Your adviser then discusses your retirement savings options and recommends a contribution level, types of accounts (IRA, 401(k), etc.), and specific funds.Your adviser agrees to stay in touch an keep on top of your financial situation. Your adviser periodically recommends changes as your situation and goals change.Periodically you discuss a specific financial decision with your adviser (e.g. mortgage, 401(k) rollover).Basically, that’s a financial coaching relationship. That’s what I do— Read here —The Value of Financial Advice:There’s significant value in those services. The value is in the form of less volatile returns (because of balancing), slightly higher returns (because of lower expenses in the recommended products), tax savings (because of intelligent financial recommendations), peace of mind (because you have a financial plan), and periodic advice that pays for itself.The Value of investment Management:There is value in the investment management if your investments are exceptionally complex (portfolio > $1M and very complex). There is also administrative value because they save you some work in opening the investment accounts and monitoring the investment statement every quarter. This value is minimal in my opinion. You can decide how much this time savings is worth.The Value of Selecting the Funds that Beat the Market (Your Adviser Says He Does That):The value of being able to beat the market is infinite. Your adviser can’t do that. Your adviser can’t select funds that can do that. How do I know that? Because it’s been proven in hundreds of independent studies made by universities, think tanks, Warren Buffet, etc. You can take these studies and put them in a pile and they would probably reach the moon.There are also studies that say the opposite. There are studies that say that a few advisers can beat the market sometimes. By the time you figure who those few advisers are, those advisers have retired or died, thereby denying you the opportunity of a guaranteed superior return.Also, the studies that say that you can beat the market are generally written or sponsored by fund companies, brokerages, etc. In other words biased studies.86% of active equity funds underperform - Financial TimesIndex funds superior to high-priced active managementActive vs. Passive Investing: Which Approach Offers Better Returns?Here’s a more fun one:Why Warren Buffett Is Winning His $1 Million Bet Against Hedge FundsVisit my blog for more - Type Z Finance Blog

Hi. Your question really speaks to the sweet spot of Health Savings Accounts as a retirement savings tool. Once you hit 65, under the Internal Revenue Code (the Code), you can withdraw funds from your HSA tax free to pay for health insurance premiums (e.g. Medicare Part D), long term care insurance and most other health care costs considered qualified medical expenses under the Code.One significant exception is Medigap insurance premiums, which are NOT considered qualified medical expenses (talk to your Congressman). Therefore withdrawing funds from your HSA to pay for Medigap insurance, even once you reach the age of 65, will be a taxable withdrawal (i.e. assessed at ordinary income rates).Were you to withdraw funds from your HSA to pay for any other expenses not considered a qualified medical expense – so things like vacations, college tuition, car payments, etc – you would only pay ordinary income tax, much like most qualified retirement plan withdrawals and self directed retirement plans (e.g. IRAs). Of course, this assumes you weren’t “shoe-boxing” your health expense receipts along the way, essentially creating a pile of “IOUs” to reimburse yourself from your HSA at a later date, while allowing the account balance to continue its tax-deferred (possibly tax free) growth.We launched an app, HSA Coach, to help educate and manage the savings balances and documentation associated with optimal health care financial planning. Available for free in the App Store and Google Play.Regarding establishing a legal entity to manage your rental property for purposes of expensing health care insurance the rules are somewhat complex. Real estate is generally considered passive income - as opposed to earned income or investment income - though many excepts exist. I would recommend additional research online.Afterwards, and if you feel you could benefit from individual guidance, you could see someone who specializes in business creation, such as financial planners, accountants and lawyers (in increasing order of cost, I would guess). The skill sets of these professions often overlap, particularly when it comes to the tax code, so you are likely to find someone with joint degrees and certifications (JD/CPA/CFP/EA).Good luck.