If you're a parent, you're either paying for childcare right now or saving for your child's future education — or both. Most families I meet are doing exactly that. But very few are doing it in the most tax-efficient way available to them.

As a financial advisor in Lexington, Kentucky, I work with families who are making real sacrifices to invest in their children's futures. The 529 plan, the Coverdell ESA, and the Dependent Care FSA are three accounts that were built specifically to help parents pay less tax today and save more for tomorrow — and most families are using at most one of them.

In this episode of The Groundwork, I walk through each account in plain English: what it is, how much you can put in, what you can use it for, and the most common mistake I see families make with each one.

WHAT YOU'LL LEARN

•      What a 529 Plan is, how it grows tax-free, and what expenses it can cover

•      The new SECURE 2.0 rule that lets unused 529 funds roll into a Roth IRA in your child's name

•      What a Coverdell ESA is, why it offers more K-12 flexibility than a 529

•      Why the Dependent Care FSA might be the most overlooked account in your employer benefits package

•      How to use all three accounts together to reduce taxes today and build your child's future

Want a strategy designed around your family's specific situation?

Every family is in a different scenario. If you're a family in Lexington, Central Kentucky, or anywhere across the Bluegrass — and you'd like help putting together an education savings and childcare tax strategy that fits your goals and your income — I'd be happy and honored to walk through it with you.