Saving For College with 529 Plans
December 9th, 2011
We’ve all heard the seemingly exaggerated expectations for the cost of a college education in 20 years. “A four year college is going to cost you $500,000 (if our currency still exists then) and one hovercraft!” Seriously…hovercrafts?
It seems ridiculous, and I’m certainly hoping that something is done to stem the dramatic increase in tuition costs and our future dependence upon hovercrafts as currency. But given that both of these things seem out of my hands, I wanted to be as prepared as possible to help facilitate my kids’ college education. More »
Posted By: Spencer Edwards | Comments (0)Credit Card Debt and Your Retirement
November 16th, 2011
I read an article recently which provided an extremely alarming statistic. Apparently the average retirement savings held in 401Ks for individuals between the ages of 55 and 65 in the United States is only $100,000.
This statistic completely blew my mind. By just reverse engineering the numbers, I determined that if a person worked regularly from the age of 22 to the age of 55, then they would have saved just barely over $3,000 a year including any gains or losses on their investments. But what does this number have to do with credit cards? More »
Posted By: Nathan Nead | Comments (0)The World’s Best Financial Gurus
August 23rd, 2011
Every industry has its own “Sultan of Swat.” Finance is no exception. In fact, the world of finance is home to some of the most widely recognized names in the world.
Here they are, in descending order: “The World’s Best Financial Gurus.” More »
Posted By: Nathan Nead | Comments (1)Bankrupt Athletes: How They Got There
May 31st, 2011
Most of us wouldn’t mind a few extra bucks in our bank accounts. Twenty million extra bucks wouldn’t be so bad either! Such a deluge of money could cover a lifetime of expenses, provide a whole lot of comfort and fun, and still leave a bit for our children when we’re gone. But would it?
It’s no secret that financial literacy is rarely included in the American education system. A few lessons on financial leveraging through 0% interest credit cards and loans, debt repayments, and budgeting could have made a huge difference in the size of our pocketbooks. So, would simply coming across more money solve our problems? Perhaps The Notorious B.I.G. said it best when he coined the phrase “Mo[re] Money, Mo[re] problems.”
The following three gentlemen are famous, world-renowned athletes who have made upwards of $400 million, yet still fell victim to bankruptcy: More »
Posted By: Jeff Greatorex | Comments (0)The Tax Man Cometh! How to File an Extension
April 18th, 2011
If you haven’t heard yet, your fellow Americans in the District of Columbia celebrated a holiday on April 15th. Emancipation Day, which marks the day President Lincoln signed a law in 1862 that freed over 3,000 slaves in D.C., is usually observed on April 16th but was moved to the 15th this year so it wouldn’t fall on a weekend.
By law, local holidays in D.C. affect tax deadlines the same way federal holidays do. So this means that your federal income taxes aren’t due until today, April 18th. You got an entire extra weekend to pay the tax man! I hope you took advantage of it.
But what if you still haven’t gotten your act together in time to file your income tax return? No need to worry, because you always have the option to file an extension and get a reprieve until October. More »
Posted By: Joshua Heckathorn | Comments (0)
