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The 529 Plan = Smart College Savings

A private college education could cost more than $400,000 in 18 years. 529 plans are federal tax-free savings funds specifically designed to help you save for your kids' college expenses. Some parents open a 529 plan when their child is born. If...

Obama and Your 401k

President Obama’s administration has been very proactive in dealing with our economic crisis. One area is our 401k. While I do not necessarily agree with some of their actions - because I think touching your 401k or IRA money is the last place you...

You're Stock-Savvy, After All

Are you managing your investments, or merely hoping your portfolio manager/father/husband/boyfriend has your best interests in mind? Turns out, you might be the best one for the job.   Several studies have shown than women are consistently better...

More About IRA

Now that you know enough about the Roth IRA to be dangerous (see last week's DailyWorth on the subject), you're done researching retirement plans. Whoa. Stop right there. The Roth IRA is just the tip of the retirement-fund iceberg. There are a...

Budget Busters

Congratulations, you've got a budget: $400 a month for groceries. $2,000 for rent or mortgage, and 15% of your take-home pay distributed across your six-month emergency savings fund, IRA and 401k. Wait ... nothing left over for savings? You have...

A Penny Saved, Part III

What you don't see, you won't spend. That's the idea behind an automated withdrawal system, which takes money out of your checking account every month and puts it into a savings account. You can create multiple savings accounts, one for a 6-month...

Recession Strategy: Take a Long Trip

Today's guest post is courtesy of DailyWorth reader Roxane Williams. My partner and I decided that 2009 would be a year for change. For years he's wanted to do an 800 mile hike in New Zealand. I've always wanted to take a year off. But, take a...

A Penny Saved

Expecting a refund check from the IRS? Most Americans do, and the average refund is over $2,000. Don't use it toward paying bills, buying a new wardrobe or a down payment for a new car or a house. Start an emergency fund. Financial planners think...

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