Everyone needs and deserves a nice vacation. It’s a chance to escape the daily grind, have fun with family and friends, and unwind. As your vacation date inches closer and the excitement builds, it’s easy to overlook some last-minute household items to check off your to-do list.
The freedoms and advantages that come with being your own boss are undeniable. Nonetheless, self-employment has trade-offs, such as the lack of an employer-sponsored retirement plan. The good news is that there’s a tax-advantaged retirement account that caters to the needs of self-employed individuals and small business owners – it’s called a SEP IRA.
As a parent, watching your child graduate high school can be bittersweet. You’re filled with pride as you reminisce about all they have achieved and overcome to reach this point. Yet, you know they are about to embark on the next chapter of their life. For many, that’s heading off to college in the fall. Before your child leaves the nest, it’s vital they understand how to manage their money responsibly.
Few people can afford to pay cash upfront for things like cars, homes, or a college education. Access to credit and loans allows you to achieve major milestones and improve your financial position. However, with such easy access to credit, many find themselves over-relying on it. While eliminating debt can often feel impossible, many are surprised to learn they have more control over the situation than they believe.
Much of your twenties is spent figuring out who you are and where you’re going in life. As you progress into your thirties, more pieces of that puzzle begin to fall into place. Perhaps you’re planning to get married or start a family. Maybe specific career goals are on your mind. Regardless, it’s often a period of significant personal growth. Achieving many of these milestones also takes financial preparation.
When it comes to investing your money, a wide range of options are available. However, with a plethora of choices also comes the possibility of increased risks. What if there was an option to invest your money and earn a significant return without any risk? You’d probably think it’s too good to be true. It’s not a myth; it’s called a Share Certificate Account.
Responsible money management is a vital skill kids will carry throughout their lives. However, the subject isn’t always the most entertaining, especially for young children. Fortunately, there are many fun and engaging ways to educate your child about money. All it takes is a little time and some creativity.
Grandparents are famous for spoiling their grandchildren. And it’s so easy when they’re young. But what about larger gifts, such as contributing to their college fund or helping them buy their first car? While financial gifts can give your grandchild a head start in life, there are things to consider.
Receiving a tax refund is exciting but, it’s important to remember that this isn’t just free cash. Your tax refund is basically money you lent to Uncle Same, which is now being returned to you. How can you spend this money so that it helps improve your financial position? The answer to that question depends on your age.
More and more parents are stepping in to assist their children with future college expenses. After hearing countless stories about young graduates shackled by student loans, parents today are trying to help their children avoid the same fate. However, as the cost of higher education continues to rise annually, many wonder what’s the best way to save. One of the most popular options is a 529 account.
