Roth IRAs were created a year later, in 1997, to give people a tax-advantaged way to save for retirement. But a funny thing happened along the way — some parents adapted the Roth IRA as a college savings tool.
Trimming college costs up front can help families avoid excessive college borrowing and the burdensome student loan payments that come with it.
Compared to 40 years ago, the timing and accomplishment of milestones on the path to adulthood are much more diverse and complex today.
The increasing student loan debt burden of older Americans has serious implications for their financial security.
For many families, a college education is a significant financial burden that is increasingly hard to meet with savings, current income and a manageable amount of loans. For some, the ace in the hole might be grandparents.
Unlike the “norm” in the accounting world, I did not intern at Skoda Minotti previous to accepting an offer. From the research I had done on my own, and through the people I interviewed with, I really liked the culture of the firm and the opportunities available to me. After interning this summer, I couldn’t be happier with the decision I made.
For young adults with college debt, deciding whether to pay off student loans early or contribute to a 401(k) can be tough. It’s a financial tug-of-war between digging out from debt today and saving for the future, both of which are very important goals.
In the financial world, there are a lot of rules about what you should be doing. In theory, they sound reasonable. But in practice, it may not be easy, or even possible, to follow them. Let’s look at some common financial maxims and why it can be hard to implement them.
If your family is planning for college and has contributed to a 529 plan, or if you are contemplating 529 plans with children nearing college age, you should take a close look at who owns the 529 plan to make sure it doesn’t negatively affect your financial aid.
If you’re a parent or grandparent of a college student or soon-to-be college student, you might be interested to learn what’s new in the world of higher education.