Financial Planning

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Penalty for Withdrawing From a 529 Plan

e federal government gives tax advantages to investments made in 529 plans, which are operated by states and educational institutions to help individuals save for college. The Internal Revenue Service doesn't offer a deduction for contributions, but the money does grow tax-free ...

How to Put Assets Into a Revocable Trust

revocable trust provides a means of placing all of your valuable assets into a trust fund to be managed for your benefit. It is common for the grantor, who is the person creating the trust, and the trustee, who is the person who administers the trust, to be the same person in ...

Do Children's Social Security Benefits Have to Be Accounted for Annually?

e Social Security Administration requires all representative payees -- individuals who manage Social Security payments on behalf of a beneficiary -- to file an annual report stating how the funds were used. When a child is the benefit recipient, a parent or legal guardian ...

Can a Mortgage Be Denied at the Last Minute?

taining a new mortgage is often a lengthy process. It begins with your initial application and continues until you close on the loan, which may take place several weeks or even months later. In many cases, the lender doesn't formally approve the mortgage until a few days before ...

Can I Have an FSA & an HSA at the Same Time?

exible spending accounts and health care savings accounts are both tax-advantaged accounts that can be used to offset medical expenses, but they have some key differences. An HSA is used for more long-term savings, while an FSA can be used regardless of what type of health ...

How to Invest Powerball Jackpot Winnings

cording to Bankrate.com, two-time New Jersey lottery winner Evelyn Adams spent through $5.4 million in jackpots, saying, "I won the American dream but I lost it, too." The same article goes on to say that of the 12 things people spend money on when winning a lottery, ...

Managing Lottery Winnings

e lottery might seem like a panacea to life's problems, but stories of lottery winners who end up broke or in tragic circumstances are readily available. Whether it's a small jackpot or a life-changing lottery winning, proper management of money you win through the lottery can ...

How to Convert a Money Factor to an Interest Rate

mponents of a lease payment are depreciation fee, finance fee and sales tax. The depreciation fee is a calculation based on the negotiated price of the car, the expected residual value, any trade-ins or down payments and dealer fees -- all items you would expect to affect your ...

What Is Life-Cycle Budgeting?

fe-cycle budgeting incorporates all aspects of a product -- from planning, research and development to marketing, sales and phaseout. It's an expansion of the typical cost-benefit analysis and can cover a period as long as 50 or 100 years in the case of public-sector ...

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