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?
Wealth Pyramid Update – 2010, April 26
I decided to review my progress on the Wealth Pyramid (also called my Financial Pyramid) that I created below. You can also view the pyramid as levels, or even a journey down the sidewalk of success. Back to me! So far, I’m still at the “Action Plans For Wealth Development” level! While I have some… Continue reading Wealth Pyramid Update – 2010, April 26