Chris DeSimio

Is Your 529 Plan Working?

Aug 15, 2018
college tuition
Publicdomainpictures.net

According to the College Board, the average cost of tuition and fees for the 2017 - 2018 school year was $34,740 at private colleges, $9,970 for state residents at public colleges and $25,620 for out-of-state residents attending public universities. The average annual increase in college tuition from 1980 to 2014 grew by nearly 260 percent.

Provided

Numerous studies show most of us would rather talk about death, politics or religion than talk about financial matters. And it can be an even touchier subject for couples to discuss.

Pixabay.com

A recent article in Marketwatch points out the high cost of financial illiteracy, $200 billion in the last 20 years as people made poor investment decisions, ran up credit card debt or made poor choices about borrowing money.

alphastockimages.com

While it can be difficult to think about taxes during the holidays, by following a few year-end tips you can prepare now to save on your taxes due in April. And the GOP tax plan could become law by Christmas, it's a good time to start thinking about how the new rules could affect you next year.

Wikimedia Commons

Getting your affairs in order in case of death or disability is a project most of us would rather avoid. And there are lots of excuses for not doing it, from fear to lack of time and money. But the payoffs of letting your wishes be known can be huge, especially for family and friends.

MMakki

 

This Thursday is the 30th Anniversary of the October 1987 stock market crash that sent the Dow Jones Industrial Average plummeting by almost 23 percent in one day. Markets around the world also fell that day, making this the first contemporary global financial crisis. The huge drop in the Dow remains the largest one-day stock market decline in history, topping even the 1929 crash.

Provided

There are many names for the group of people born from about 1981 to 1997-- millennials, Generation Y, Echo Boomers. A survey by investment firm T. Rowe Price called them the Money Conscious Generation.

https://studentloanhero.com/student-loan-debt-statistics/
Pixabay.com

A recent WalletHub study shows Ohio has the most student debt in the country with an average of $30,239 per student.  Nationally, student loan debt stands at a staggering $1.3 trillion.

Greg Hume

Once the home of influential anti-slavery author Harriet Beecher Stowe, the Stowe House in Walnut Hills is recognized as a site on the National Underground Railroad Network to Freedom.  Planning is underway for restoration work on the 184-year-old house located at the corner of Martin Luther King Drive and Gilbert Avenue.

U.S. Department of the Treasury

Do you remember a time when a bank savings account earned about five percent interest each year? It’s quite a contrast from today, with savings accounts averaging just a little more than a half percent. Series EE Savings Bonds return one-tenth of a percent, nowhere near enough to keep up with inflation. Other government bonds have higher rates, but still average about two percent. You can do better with high-yield bonds and the dividends paid on some stocks, if you’re willing to take the risks associated with those types of investments.

Wikimedia

With the Fourth of July coming up next week, we take a look at the world of finance through the eyes of our country’s founders – a “Founding Fathers Finance Party,” so to speak.

Provided

Not so long ago the Medicare federal health insurance program was relatively simple. Most Americans were more or less automatically enrolled in the program at age 65. Nowadays, Medicare has become vastly complicated, with different enrollment periods, different plans, and lots of other variables at play. Make a mistake in any of these areas and it can cost you money, aggravation, and lost chances to get the best health care.

Provided

Many of us think we need to wait until our kids are old enough to “get it” before having the money talk. But research shows you actually can start the conversation much earlier. The research also shows the biggest influence on a child’s financial behavior is mom and dad. So, when and how do you start?

Provided

Disruptive startups versus Blue Chip companies. Dave Knox calls this competition the new game of high-stakes business. 

Wikimedia Commons

 

From balancing your checkbook or monitoring your credit score to finding a new job or adjusting your investment allocation, there are several steps you can take now that will help improve your financial situation over the next year and years to come.

pixabay.com

With hosting parties, visiting family and preparing holiday meals, December can be a busy month. Probably the last thing you want to think about this time of year is your finances. But with the December 31st deadline looming for certain financial activities, tax and financial experts say the time you spend now will reap benefits in the New Year and beyond.

pixabay.com

 

Political pundits aren't the only ones following this year's elections, investment professionals also have reason to closely monitor the polls and likely outcomes of the races for the White House and both houses of Congress. 

401kcalculator.org

The College Board reports the average cost of tuition and fees in the 2015-2016 school year topped $9,400 for state residents at public colleges. It was $23,893 for out-of-state residents attending public schools, and $32,405 for students going to a private university. 

pixabay.com

  

There is a reason Cincinnati has adopted the flying pig as its unofficial mascot. It's a  reminder of the city's early days, when the pork processing industry was so vital to the city's local life and economy Cincinnati was known as Porkopolis. 

commons.wikimedia.org

At least 14 states have banned high-interest payday lending, but providing these short-term, high-interest loans is still a multi-billion dollar industry in the United States. 

wikipedia.org

"Don't put all of your eggs in one basket." Sound advice for anyone with an investment portfolio, including a retirement account. Financial experts recommend diversifying the types of assets you hold and the companies and industries you invest in to minimize risk.

pixabay.com

Last week U.S. Treasury Secretary Jacob Lew announced that an image of former slave and abolitionist Harriet Tubman will replace Andrew Jackson's picture on the front of the $20 bill, with a smaller image of President Jackson appearing on the reverse side.

pixabay.com

April is National Financial Literacy Month, sometimes referred to as National Financial Capability Month. Social service agencies, financial institutions and educational groups use the month to raise public awareness about the importance of financial literacy and the need for financial education, for both adults and children.

pixabay.com

Have you filed your tax return yet?  If you haven't, you're not alone. The IRS says about one-third of Americans wait until the last minute to file their federal taxes. And, if you're counting it down, you've only got about two weeks left until the filing deadline, unless you get an extension.

www.gpk.com.au

Are you confident you will have enough money saved to live comfortably throughout your retirement years? Recent surveys show most American workers would answer “no.” More disheartening, most workers have no real idea of how much money they would need by the time they retire.

pixabay.com

Many investors received an unpleasant surprise when they read their January IRA or 401k account statements. The month was one of the worst starts to a new year in recent history for the stock market, with the Dow Jones Industrial Average losing 5.5 percent and the NASDAQ suffering an almost 8 percent drop.

zb-lzonline.com

Many of us feel we need to take control of our finances and do a better job of managing our money. But it can be difficult to sort through the vast amount of financial advice available today from online sites, cable shows and best-selling authors, and come up with a financial plan that works for our specific situations.

marquetteeducator.wordpress.com

January is a good time to think about your financial goals for the year, come up with targets, and a plan to meet them. Whether you hope to reduce your credit card debt, increase your retirement savings, or put away enough money for the family vacation, your chances of success will improve dramatically if you think about and write down your goals now.

citizenpoweralliance.com

As you enjoy the holidays, it’'s a good idea to remember to set aside some time to review your finances and see what options you have before January 1 to reduce your taxes.

flickr.com

Where you live can have a dramatic impact on how far your money will go and what type of lifestyle you lead. According to one online cost-of-living calculator, someone earning an annual salary of $50,000 in Cincinnati would need to make $80,000 to maintain the same standard of living in Boston. But just $47,000 in Cookeville, Tennessee.

Pages