Near-retirees and midcareer workers feeling similar stress as recent college grads. There’s no doubt that the rising cost of college is putting lots of financial stress on American workers. Frequently, the cost of a 4-year private university is more than the average cost of a home in most areas of the country. Here is a snapshot [...]
A couple of years ago, our family made the collective decision to get a family dog. I wasn’t particularly sold on the idea, but my wife and all of our children clamored to have a dog at home, so I agreed. During the process of finding a dog and the subsequent process of [...]
You have more choices than you think. Is creating a college fund on your to-do list? Consider these options. 529 plans. Anyone can contribute to these savings vehicles. Some let you prepay college tuition; others allow you to accumulate and invest education funds. Earnings on investments in a 529 plan grow tax-deferred, and [...]
What expenses are covered by a 529 plan and which are not? Parents looking to take advantage of the many benefits of saving for college with a 529 plan will want to know the full details on which educational expenses qualify for tax-free distribution status -- and which do not. (1) In Publication 970, [...]
For parents who want to help their children pay off loans, a note of caution A growing number of parents appear to want to help, as young-adult children struggle to pay off debt in an era when wages are not growing and rents are high. But parents need to be careful not to jeopardize [...]
Tax Freedom Day® Tax Freedom Day, as calculated by the Tax Foundation, a nonpartisan economic research think tank, is the day when the U.S. as a whole has earned enough money to pay off its total tax bill for the year. It provides an easy way for Americans to gauge the total amount of taxes [...]
Your biggest financial asset is your ability to earn a paycheck With all the attention and occasional hand-wringing over the retirement savings gap facing millions of Americans, one observation often goes unmentioned: your biggest financial asset, or at least one of your biggest assets, is your ability to earn a living. That is not to [...]
Being part of the college planning process can be very educational for children, as it presents them with valuable financial lessons for the future. Children can earn money, learn about sources of financial aid, research potential colleges, and take other steps that may relieve their parents of some of the responsibility of college planning and [...]
Start your child on the right path from Day 1! [gview file="http://VirtueWM.com/wp-content/uploads/2014/11/LPL_Baby_Steps_for_Planning_Your_Childs_Financial_Future.pdf"]
