Today, I decided to expand on the discussion about 529 college saving plans which was in an earlier blog post. In my post called “My 529 College Savings Experience“, I covered that basics that the average person would need to know. If the beneficiary decides not to use the money, and wants to cash out the plan instead, they will… Continue reading 529 College Saving Plans – Part 2
Month: April 2010
My 529 College Savings Experience
First, what is a 529 plan and what are it’s benefits! What is a 529 plan? These are college saving plans that are operated by state or educational entities. The “529” numeric element refers to the IRS code with created these types of plan in 1996. There are typically 2 types of plans: Prepaid Tuition –… Continue reading My 529 College Savings Experience
Crucifying Goldman Sachs, Start of The Witch Hunts
I’m watching the Goldman Sachs meeting by a subcommittee of the senate, and it looks like the Witch Hunt is abound. Who’s next Chase, BAC, Citi, …? Some of the senators just look plain ignorant (especially Senator Levin)… I don’t see why they were speaking if they don’t know what they are asking about. I don’t… Continue reading Crucifying Goldman Sachs, Start of The Witch Hunts
Considering A Coverdell Education Savings Account?
This Account use to be called “Education Individual Retirement Account“, which I always thought was a poor naming choice for a college savings account!!! The plan is sometimes called an “Educational Savings Account” or an ESA. So what are the properties of an ESA? The money put into an ESA is NOT tax deductible. So you can’t take… Continue reading Considering A Coverdell Education Savings Account?