A 529 plan is a tax-advantaged educational savings plan operated by an educational or state institution. 529 plans were created by Congress in 1996, and “529” stems from their required compliance with section 529 of the Internal Revenue Code. They are legally known as “qualified education programs.” … [Read more...] about Prepaid 529 Plans
Don’t underestimate the difference that a couple percent could make in the growth of your investment or savings. The rule of 72 is a simplified method of determining the number of years it would take for your money to double at a certain interest rate. It illustrates just how impactful a seemingly … [Read more...] about Rule of 72
The decision of whether to use extra money to pay down your debt more quickly or to instead invest it for potentially greater overall returns could have an immense impact on your future financial state and thus should not be taken lightly. The first couple pages of Google search results for “pay … [Read more...] about Should You Invest or Pay off Debt?
Got a lot of debt? Don't worry—the path to paying it off expediently and getting onto a solid financial footing is simple. Crush it in these 6 steps! 1. If you're living paycheck-to-paycheck, scrape together a $1,000 starter emergency fund (after paying your bills and minimum payments, of … [Read more...] about 5-Minute Guide to Debt Payoff
Two scoring models comprise the vast majority of those used: FICO Score and VantageScore. You are likely more familiar with the FICO Score, given that it has been in majority use since 1989. VantageScore, on the other hand, debuted in just 2006. Though FICO Scores have the lion's share of usage by … [Read more...] about What Is a VantageScore?
In Best High-Yield Savings Accounts (3%–5% APY), I listed your most lucrative options for places to stash your savings, mostly available nationwide and offering over 5% APY. This post contains your next-best account options, offering between 3%–4.59% APY, also available nationwide. Though the … [Read more...] about High-Yield Savings Accounts (3%–4.59% APY)
Bonds are a type of fixed-income investment that typically provides periodic payments according to a set schedule. Though they generally pay lower amounts than what you might expect from long-term equity (stock) investing, they are widely considered an integral part of any investment portfolio. Why … [Read more...] about The Basics of Bonds
There are two types of corporations, C and S corporations, and C corporations are the "regular" type. Their primary differences lie in the way they are taxed; otherwise, they are very similar. We'll get to the distinguishing features of each, but here are some common denominators. The main … [Read more...] about What is a Corporation?