Do you save for your children's education? Or do you plan to start? If you think it's important to help your child with college expenses, you are in luck, because you have some options. One of the most common ways to save for education is through a 529 plan. A 529 is like an IRA for education. Let's see how a 529 can help you... The Breakdown A 529 is an education savings … [Read more...] about What is a 529?
"The goal of retirement is to live off your assets-not on them" -Frank Eberhart Rule No.1 of living off your assets: You must have assets. You may plan to retire. You may not. Either way, it's a good idea to have a plan for wealth building. You may need it. So, when do you start planning for it? And how do you do it? When Do You Start? You probably saw this coming: you … [Read more...] about Retirement 101: When and How to Start Contributing to Your Retirement
There is a word. A word that you have heard me use many times. A word that has changed spending, saving and investing. What is the word, you say? Don't pretend like you don't know. The word is automation. Automation, A Substitution for Willpower It used to be that investing required discipline. Especially long-term investing. That's not the case anymore. You … [Read more...] about Why It No Longer Requires Discipline to Become Wealthy
You have heard the term 401(k) before. You know it has to do with retirement. You may even contribute to a 401(k), but do you fully understand it? It's simple to understand what it is and how it can help you. Let me explain... The Breakdown A 401(k) is a company retirement plan. The name comes from the Internal Revenue Code: Section 401, paragraph k. Think … [Read more...] about What is a 401k?
This is a list of 18 one-sentence tips that will drastically improve your finances. These are quick tips, but they will surely make a huge improvement if you take them to heart. Remember, just because you have heard some of these before, doesn't mean you actually absorbed it. Read the list slowly and see if you can implement some of these, especially things that you may have … [Read more...] about 18 One-Sentence Tips on Saving Money and Handling Your Finances