Tag: #IRA
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6 Important Pointers to Know About Education Tax Credits
When it comes to college education, the costs involved can be overwhelming. Right from the tuition money to the cost of travel, books, course-related equipment and more, parents and students often have to turn to student loans to accommodate these expenses. While long-term savings accounts, such as a 529 education account, Individual Retirement Account (IRA), ... -
10 Reasons Why You Must Conduct a Mid-Year Financial Checkup
Financial planning is not limited to knowing what to do with your money. It is impacted by various aspects from time-to-time and needs to be revisited and modified to ensure it is in line with your financial goals. A mid-year financial checkup helps to build your holistic financial well-being. Such a strategy becomes even more ... -
5 Reasons Why Trusts Are Not Just For The Rich
A popular notion, that is often misunderstood, is that trusts are only for the rich. The reality is that a trust is helpful to people of all economic backgrounds. A trust is a legal arrangement that allows a person (the grantor) to transfer their assets, including cash, investments, properties, etc. to a private fund. This ... -
Tips to Adapt Your Education Planning in The Pandemic Era
In an interview to Forbes Magazine, Dave Ressner, a wealth advisor and education planning specialist revealed that in a survey taken in March 2020, 36% of college presidents were convinced that this academic year was going to be ‘disrupted in some way.’ The world has taken a very different route in the last couple of ... -
Soup to Nuts Guide to Creating a Foolproof Will
Most people are inclined not to think about their mortality. Hence, they do not consider estate planning, especially writing a will, as an imperative task. Moreover, writing a will is often regarded as complicated, irrelevant, and most of all ‘a thing of the rich’. As per a 2020 Estate Planning and Wills survey conducted by ... -
Risk Tolerance Lessons from Covid-19
The pandemic of Covid-19 was a wake-up call for all countries. The virus did not only endanger millions of lives across the world but also brought everything to a standstill. It affected the global economy, and brought it to a halt where recession seemed unavoidable. But valuable lessons were learnt from this pandemic. This may ... -
Impact Of COVID-19 On Schools And 529 Plans
The COVID-19 crisis has changed the entire social system and functioning. Schools, in this regard, have been the worst hit with no certainty on when they can resume operations. While educational institutions remain closed, many may fear that they might not be able to survive the pandemic due to lack of funds. In such times, ... -
Do You Need to Rejig Your Financial Plan Because of the COVID-19 Crisis?
The global pandemic of COVID-19 has spiked volatility and given rise to several grave concerns. Its impact on the health and mental well-being of people is one side of it. The other equally serious implication is on the financial health of the economy. The world is facing a financial crisis for which no one was ... -
3 Bad Financial Habits That Can Endanger Your Retirement Plan
The road to retirement seems straightforward and simple. One needs to have a steady job, save as much as possible, invest in safe stocks and bonds, and keep their expenses in check. However, despite knowing these basics, not all people reach the finish line with flying colors. Many struggle to keep up with these habits. ... -
10 Financial Planning Actions to Consider During an Economic Crisis
An economic crisis is a situation where a country experiences a financial plunge. It affects the GDP value, as well as reduces liquidity in the system. It also causes drastic market fluctuations and can lead to inflation or deflation. What is more startling is the lack of preparedness to tackle such situations, causing further economic ...