What the heck is ‘Amortized’ Interest (and why should I care)?
When a bank loans money – it charges interest for the use of that money. Think of interest as rent. Say we borrow $12,000 – and agree to repay it over 10 years at an interest rate of 5.46%. Based on those loan terms, our total interest charge will be...
An Open Letter to College-Bound Kids
What your parents want you to know – but are too romantic to tell you! Warning: you’re not gonna like what I’m about to share with you – but you need to hear it. You may be thinking, ‘my parents – romantic?’ In this case – yes – they are. You see,...
Where the Coronavirus may have a 20% Mortality Rate
CAMBRIDGE, MASSACHUSETTS – MARCH 12: Harvard Sophomore Jordan Di Verniero, 19, sits with her belongings in front of Eliot House before returning home to Ormond Beach, Florida, for the rest of the semester on March 12, 2020 in Cambridge, Massachusetts. Students...
10 Reasons Millennials should ditch the 401k
In today’s market, there are products and options that are far superior to the now 45 year-old qualified plan – plans that are not one-sided partnerships.
Revisiting the College 529 Plan
We are advocates of a plan that is also funded with after-tax dollars, and like the 529 plan, is accessible tax-free. It doesn’t generate a state tax credit, but it also eliminates any FAFSA penalty, and those tend to cancel each other out.
Where our plans really shine is that they are not exposed to market risk, and they can be used for any purpose – college, starting a business, travelling the world, or starting a killer long-term tax-free retirement account.
