Are you the type of person who celebrates your personal victories? According to a number of psychological studies, celebrating victories—even the small ones, has an extremely positive impact on a person’s sense of happiness and well-being.
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Now, more than ever, we are recommending 529 Plans as a way to save for college. When Congress passed the SECURE 2.0 Act in 2022, they introduced new rules relating to 529 plans. The new law now allows for tax and penalty-free rollovers from a 529 plan to a Roth IRA!
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With nationwide college costs continuing to rise, it has never been more important for parents to develop a savings strategy to help cover these costs.
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The Consolidated Appropriations Act (CAA) offers many tax provisions to assist in the ongoing economic crisis. Many of the provisions affect not only the 2020 tax return but into future years as well.
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College is almost here! So, while my family is busy applying for college, you may be considering utilizing a 529 College Savings Plan as a component of your college savings strategy for your own kids or grandchildren. 529 Plans can be an excellent tool when saving for college, however, there are also a number of drawbacks to consider.
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Coverdell Education Savings Account can be a great solution for parents who would like to save money for future college costs.
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