As parents, most of our time is spent managing our day-to-day lives. While making sure our kids master life’s lessons, it’s easy to put saving for college on the back burner. Experts say we should start early and balance our efforts between saving for retirement and college. It’s a juggling act, but a necessary feat [...]
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If you are a parent to be, you’ve probably been undergoing a flurry of planning activities, from decorating the nursery to researching baby names. College savings is probably not high on the priority list. Yet, considering the impact of tax-free compound growth over time, it should be. Taking the college savings plunge in the early [...]
The Roth IRA is a great opportunity for young savers. While you are still in a low tax bracket, you can stash away money and never have to pay taxes on it again. Take advantage of it now before you disqualify based on your income.
Pros
Here’s are the benefits of a Roth IRA for growing families:
Pay [...]
Make sure you have an emergency fund that will cover 3 to 6 months of living expenses. That’s a recommendation you will likely get from most financial advisers. It is good advice, and will buy you a surprising amount of peace of mind.
We’ve received quite a few questions regarding where do I park [...]
The Dow is back at 10,000.
If you are thinking about jumping on now for a nice ride, beware. It might be a bumpy ride. Important indicators signal that our economic problems are far from over. In an earlier post, we reminded folks to read the bond market’s tea leaves for [...]
Most of us have the option of saving for retirement in a 401K plan (Wikipedia) which is usually, but not always, the best way to save for retirement.
Pros
Tax-Deferred: Save on taxes now. You will need to pay for it later though. Your tax rate now will most likely be higher than during retirement. If this [...]
We should look for clues in the bond market to help us gauge how the broader economy is doing. There are definite signs that we are in the early stages of a rebound.
After analyzing over 5,000 investment options available through 529 plans, we can conclusively say that 529 plans are not created equal.
Top Reasons Establish a Will
Most young parents will need to create a will for the first time and it’s important to understand why they are doing it?
You want to decide who will raise your children. If something unexpected happens to both parents, you’ll want to decide who becomes your child’s guardian rather a probate judge [...]
What is it?
Umbrella insurance refers to a liability insurance policy that protects your assets and future income beyond the standard limits in your auto and homeowner’s policies. It’s an umbrella because it covers liability claims from all policies underneath it, such as autos and homeowners policies.
For example, if you have an auto insurance policy with [...]
