Personal Money Management

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Effect of VA Compensation on Social Security Benefits

If you’re getting Veterans Administration benefits, you can get Social Security benefits at the same time. These two programs have their own eligibility requirements including different definitions of disability that you must meet. Just because you’re considered ...

How to Take Funds From a Coverdell Education Savings Account

Coverdell education savings accounts (ESAs) offer tax-sheltered growth and tax-free qualified distribution to help families save for future education expenses. Coverdell ESAs have lower contribution limits than qualified tuition plans (QTPs)-- you can only contribute $2,000 per ...

How to Trade a Car When You Owe More Than Book Value

To be upside-down on your car -- to owe more than it is worth -- makes trading in that car a challenge. However, the Kelley Blue Book website notes that well over half of trade-ins are in an upside-down position. It is always possible to trade a car on which you owe more than ...

How to Trade in a Lease

When you lease a car instead of buying it, you don't have to worry about common car concerns such as depreciation. But you're also not building equity in your lease. It's impossible to trade in a leased car for money in the same way you might trade in a car you own. A few ...

How to Borrow From a TSP to Pay Off Bills

Using a Thrift Savings Plan (TSP) loan to pay off your credit card debt is a pretty straightforward process. The interest you pay, which is the G-fund rate at the time of loan initiation, goes back into your own account. Your only real cost is a $50 administrative fee. This ...

What Happens to Flexible Savings Account When I Quit?

You can put pretax money into a flexible spending account to pay for certain costs like health care or child care. In exchange for the ability to shelter that income from taxes, you have to use the funds in your FSA account for their designated purpose, and you have to use them ...

What Does Massive Bond Sell-Off Mean to Me?

Markets in one of the three main categories of bonds -- corporate, municipal and sovereign debt, such as U.S. Treasuries -- can be analogous to a canary in the coal mine in terms of financial health. For investors like you, a massive market sell-off can have significant ...

How to Withdraw Money From My Mutual Fund

Redeeming shares of a mutual fund can be as easy as a single click online or a phone call. On the other hand, it might require a meeting with your financial adviser. It depends on your needs and the tax status of your account. In any case, the process is pretty straightforward.

What College Items Can I Use as a Tax Write-Off?

Rising costs of tuition and other higher education expenses make federal income tax breaks for college costs attractive for many households. In addition to pre-college savings plans, these tax write-offs can reduce annual income tax obligations as well as adjusted gross income. ...

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