With the cost of higher education skyrocketing, it’s wise to start saving early. A 529 plan—named after its place in the IRS code–may be the perfect place to start. But first it’s important to note the benefits, pitfalls and costs associated with them. TWO TYPES OF 529 PLANS Prepaid Tuition Plans *Offered by specific in-state, […]
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Money doesn’t grow on trees. But it does in a 401(k). That’s because, most likely, your employer matches your contributions—which you get to keep even if your investment earns absolutely nothing. For example: suppose your company matches your contribution up to 4% of your income; if you earn $70,000 per year and put in that […]
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With social security payments fluctuating wildly depending on the start date, knowing when to begin collecting the retirement benefit is critical.
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A reverse mortgage may be an ideal way to finance retirement, but understanding the implications and risks is vital before making such an important financial decision.
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