As we approach the end of College Savings Month, we focus on the allowed and disallowed uses of 529 savings. Many may not know that 529 college savings accounts can be used for things besides tuition at a traditional four-year institution, several other types of education programs qualify.
Historically, you have had three options; leave it in the 529 college savings account in case the need for further higher education arises, change the beneficiary to another family member so they can use it for higher education, or withdraw the funds in a nonqualified withdrawal and pay taxes. Now, you have a fourth option. The Secure 2.0 Act changed the law so that you can now roll a portion of your 529 savings accounts over as Roth IRA contributions for the beneficiary.
Identity theft, one of the fastest-growing cybercrimes, can derail your personal and professional life. As we all live in the digital realm, it's crucial to understand the risks associated with sharing personal information and the steps to mitigate them.
Whether they want the role or not, adult children often find themselves in the position of primary caregiver for their parents. Unfortunately, many of us are not prepared for that role. We often find ourselves so engrossed in how fast our own children are growing up that it’s sometimes easy to forget that our own parents are also aging.
Save early, save often and understand the alphabet soup of options. The cost of a college education increases every year, largely unbeknownst to you until you receive the bill. The pile of money you must save is staggering. If you have children, plan for college costs as soon as possible.
Vacation travelers, get ready for some exciting news! If you're planning a trip abroad, this year might be one of the best times to do so. The U.S. dollar is experiencing a remarkable surge, strengthening against nearly every major currency around the world. This development could mean more bang for your buck when you travel. Let's delve into what this strong dollar trend means for your next vacation and how you can make the most of it.
