Personal Finance

Try to split your retirement savings efforts among three different buckets, said Kevin Meehan, a CFP and regional president of Wealth Enhancement Group in Itasca, Illinois. Those are: • Tax-deferred: Accounts such as a 401(k) or traditional IRA, where you make pretax contributions and are taxed on withdrawals in retirement. • Tax-free: Think Roth 401(k)s
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Few families can cover the skyrocketing cost of college outright. Luckily, there are more than 7 million scholarships available to help. But wading through the options can be overwhelming. Enter free search sites, like Tuition Funding Sources, which help students find the most desirable kind of assistance — money that does not have to be
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There’s no silver bullet for generating retirement income; however, financial advisors suggest that dividend-focused investors should consider diversifying their holdings and income streams. “Rather than thinking ‘I can only spend dividends that come to me from high-dividend yielders,’ say ‘I need $100,000 a year, and I don’t care whether it comes from dividends, interest payments
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“We’re hyper aware of what other people are doing,” said Kelly Lannan, director of women and young investors at Fidelity Investments. “But now it’s not just keeping up with friends, it’s keeping up with celebrities.” More than half, or 57 percent, of millennials have spent money they weren’t originally planning to on products they saw
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Public service loan forgiveness allows certain not-for-profit and government employees to have their federal student loans canceled after 10 years of on-time payments. But most people, like Sonn, are rejected because they don’t fulfill one of the requirements. Consumer advocates say that student loan servicers have failed to guide borrowers to the consumer protection. These
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