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College Savings Plans
College Savings Plans So you have just carried your newborn into the house for the first time, placed him or her down into the freshly-purchased crib that you just obtained, and watched him or her drift into their first sleep under your roof. Now it's time to head downstairs by the fire, cuddle up with your spouse, and start discussing college plans for this new little tyke. Wait, college plans? That's right. It is never too early to start planning the future out for your child, especially ...Read more »•
College Savings Plans - are they the best choice for my child?
/p> College Savings Plans ' are they the best choice for my child? College Savings Plans, also called Section 529 plans, are one of the best ways to save for college because they offer: -Tax advantages -A variety of investment options -Flexible contribution options -Parental control -Little impact on eligibility for need-based financial aid Tax advantages Investments in 529 plans are usually exempt from federal taxes. Earnings are tax-deferred and are not subject to capital gains taxes. ...Read more »•
Health Insurance Plans and their Differences
Health insurance plans have changed dramatically over the past ten years, and American's currently have several different options to choose from- including HMO's, PPO's, fee-for-service plans, MSA's and major medical. There are two main categories of health insurance plans that each of these policies is classified as; managed care plans and indemnity care plans. The differences between each of these plans mean the differences in how you will receive health care when you need it. Managed care ...Read more »•
Bad Habits Keep You From Achieving Financial Plans
Bad habits can ruin any well thought out financial plans. Habits such as your morning coffee, buying lunch at work each day, and of course smoking and drinking, can drain your bank account. They are not as noticeable as someone backing a truck up and loading all your money in and driving away. However, the results are the same. A woman shared her story with me. Her bad habit was smoking cigarettes. She smoked less than a carton a week. Along with her husband's habit they used about two cartons ...Read more »•
401(k) Plans
You have permission to this article either electronically or in print as long as the author bylines are included, with a live link, and the article is not changed in any way. Please provide a courtesy e-mail to charles@thestockopolyplan.com telling where the article was published. (967 word count) 401(k) Plans I've been in and interested in the stock market so long (one year shy of forty years) I can remember when the Mutual Fund pages in my home town paper were just one page! (The DOW ...Read more »•
College Tuition Prepayment Plans Stumble
Perhaps the most heartbreaking casualties of recent stock market performance are the 20 state-sponsored college tuition pre-payment plans throughout the country. With college costs continuing to grow at a pace of about 9% per year and investment returns on plan assets being flat or negative, the sponsors of the various prepaid tuition programs now project long-term cash shortages. Investors in the program thought that they had purchased 'paid up' tuition credits under the program, regardless ...Read more »•
Update on Student Health Plans
A highly effective but little-known strategy for controlling medical insurance costs will become a bit less attractive after September 1 when the nation's leading issuer of medical insurance raises rates for policyholders over age 29. This change primarily affects self-employed individuals who maintained their own health insurance plans after graduation from college. Students who purchase private medical insurance enjoy more liberal coverage than the plans typically offered through ...Read more »•
Funeral Plans
/p> It makes sense to plan your funeral in advance. Here are some of the areas you may be concerned about. 1. What happens if the funeral plan provider goes out of business? While this is considered unlikely, monies paid by you for your funeral plan will be received in accordance with the code of conduct of the UK's National Association of Pre-paid Funeral Plans (NAPFP) and will be fully protected. The money for your funeral is held in a a trust - a separate legal entity - which is regularly ...Read more »•