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.
Why Almost Everyone will Overpay For College (Part 3 of 3)
A college is a business. You are a potential customer. You represent 4.5 years of tuition, room, board, books, and an economic participant in the college community. Even at a modestly priced school, chances are you represent at $150,000 “client.”
Why Almost Everyone will Overpay For College (Part 2 of 3)
Today, there are a staggering 2,000,000 parents collecting Social Security Benefits while they’re still paying on parent loans (some are drawing Social Security just to pay on those loans), and a mind-boggling 300,000 of them are having their Social Security benefits garnished to pay their parent debt down!
Why Almost Everyone will Overpay For College (Part 1 of 3)
How many Quarter Million Dollar mistakes can you make in a lifetime without it seriously affecting you?
The good news is that whether the Junior at your house is 8 or 18, it’s not too late
…So Why Do They Say That?
… the advisor lives in a world where all growth is taxed. I live in a world where no growth is taxed. In my world, the $1,400 ending balance would bear no tax liability whatsoever – in which case my original statement – “there is no mathematical advantage to tax-deferral” – is 100% true and accurate.
