How To Increase Your Savings » Plan/

Should We Contribute To A Thrift Savings Plan?

External Contributor — Sun, 28 Feb 2010 18:42:08 +0000

My husband is active duty military and we are currently putting about $100/month into his TSP. I have heard others recommend only contributing in a 401K up to an employer match. Since his TSP doesn’t match, would it be better to contribute to a Roth IRA instead?

Is There A Decent Alternative To The 529 College-savings Plan?

External Contributor — Tue, 16 Feb 2010 12:36:11 +0000

My husband does not want to save using a 529 plan because of the penalties that would be enforced if our sons chose not to go to college, but just withdraw the money (10% plus all taxes.)
Are there any alternatives that would allow us to save comparably but without penalties? Or would the two just cancel each other out (No tax breaks but also no risk)?

What Do You Think Of My Savings Plan? (i Am Moving Out Shortly So It Is Vital!!!)?

External Contributor — Thu, 11 Feb 2010 06:38:01 +0000

I am 17 and in college, I don’t have a paid job yet but will be doing voluntary (will try find a few hours at night for paid work, moving out shortly).
I want to save half of everything (except maybe when I HAVE to break into it if I go on holiday in october). I get £30 a week EMA so I am thinking of saving £15 of it every week. What do you think?

Best Starting Savings Plan For New Babies?

External Contributor — Wed, 03 Feb 2010 12:35:25 +0000

I am having twin boys in July, and would really like to set up some kind of account or savings bond or something for them. Ideally, it’d be something I can add their birthday/holiday money to also over the years and would collect interest. Not neccesarily a college fund, but a nice little nest egg that they can have when they are old enough.
Also, are there any plans that would allow for a smaller initial investment. With twins coming, money is tight, as you can imagine. Regardless, I feel that I have to do something like this for them.
Thank you for your suggestions.

Is There A 529 Savings Plan That Will Let Me Manage My Money Instead Of Using One Of The Default Options Given?

External Contributor — Wed, 27 Jan 2010 00:39:23 +0000

For eg: my employer provides me with a 401(k) plan that allows me to invest the money in individual stocks rather than the default mutual fund choices that the account provides. I was wondering if any provider offers a 529 plan with this kind of flexibility.

Which Class Level For 529 College Savings Plan?

External Contributor — Sun, 24 Jan 2010 18:30:07 +0000

I am putting money in a 529 college savings plan for my infants. My financial adviser suggests we put our money in a Class C mutual fund. I remember reading somewhere that Class A is the better way to go. I don’t really know what is the difference and what advantage one has over the other. Will anyone be kind enough to educate me?

Does Having A 529 College Savings Plan Disqualify You From Getting Federal Aid?

External Contributor — Fri, 15 Jan 2010 12:25:53 +0000

What is the point of saving for college for your children if it disqualifies them from getting govt aid. The amount you save (say $40,000) isn’t going to cover all of their expenses for a 4 yr public program in 2017.
Please enlighten me, does having a 529 account disqualify you from getting federal aid. If not, whats the least and max amount I can have
in the account (% wise) without it interfering with federal aid.

How Do Y’all Plan On Getting Your Baby/child To Adjust To Daylight Savings Time?

External Contributor — Mon, 11 Jan 2010 12:26:28 +0000

My daughter adjusted no problem (almost 3), but my 5 month old is killing me! As if I wasn’t already sleep deprived enough!

Will Money Deposited Into A Collage 529 Savings Plan Be Questioned In A Irs Audit?

External Contributor — Tue, 05 Jan 2010 00:35:12 +0000

I opened a collage 529 savings plan for my child. Several reletives have contributed money to the account. I am worried that the IRS will ask me how a got the money.

Is There An Online 529 College Savings Plan In Order To Avoid Fees?

External Contributor — Fri, 01 Jan 2010 18:29:19 +0000

I’m feeling the 529 is the way to go, but I don’t want to use our state program in the event they don’t go to school in the US (am I correct in the understanding the 529 money can be used for out of the country schooling, but not if you do it through your state)? Wanting to avoid big fees and to be able to do it through Ameritrade or a similar outfit. Advice?