Financial Aid Changes on the HorizonThe U.S. Department of Education has designated February as Financial Aid Awareness Month, and this year there's a lot to talk about. On December 21, 2020, Congress passed the Consolidated Appropriations Act, 2021, another relief package in response to the pandemic. Included in the bill were several provisions related to education, including many changes to financial aid. Here are some key highlights.
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Revisiting the 4% RuleSaving for retirement is not easy, but using your retirement savings wisely can be just as challenging. How
much of your savings can you withdraw each year? Withdraw too much and you run the risk of running out of money. Withdraw too little and you may miss out on a more comfortable retirement lifestyle. |
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Understanding Long-Term Care Insurance |
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Taking Advantage of Employer-Sponsored Retirement Plans Employer-sponsored qualified retirement plans such as 401(k)s are some of the most powerful retirement savings tools available. If your employer offers such a plan and you're not participating in it, you should be. Once you're participating in a plan, try to take full advantage of it. |
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Sudden Wealth |
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Saving for Retirement and a Child's Education at the Same Time |
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Repaying Your Student Loans |
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Medicaid Planning Basics |
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Maintaining Your Financial Records |
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Financial Survival After a Job Loss |
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Financial Basics for Millennials |
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Dealing with Periods of Crisis |
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Creative Ways to Lower the Cost of College |
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Divorce can be a lengthy process that may strain your finances and leave you feeling out of control. But with the right preparation, you can protect your interests, take charge of your future, and save yourself time and money. You certainly never expected divorce when you cut the wedding cake; you and your spouse planned on spending the rest of your lives together. Unfortunately, the fairy tale didn't work out, and you're headed for a divorce. So where do you begin? |
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Caring for your aging parents is something you hope you can handle when the time comes, but it's the last thing you want to think about. Whether the time is now or somewhere down the road, there are steps that you can take to make your life (and theirs) a little easier. Some people live their entire lives with little or no assistance from family and friends, but today Americans are living longer than ever before. It's always better to be prepared. |
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There's no doubt about it--owning a home is an exciting prospect. After all, you've always dreamed of having a place that you could truly call your own. But buying a home can be stressful, especially when you're buying one for the first time. Fortunately, knowing what to expect can make it a lot easier. |
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Annuities and Retirement Planning You may have heard that IRAs and employer-sponsored plans [e.g., 401(k)s] are the best ways to invest for retirement. That's true for many people, but what if you've maxed out your contributions to those accounts and want to save more? An annuity may be an appropriate investment to look into. |
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It's difficult to imagine functioning in today's world without credit. Whether buying a car or purchasing a home, credit has become an integral part of our everyday lives. Having easy access to credit goes hand in hand with having a good credit score, so it's important to know how to maintain a positive credit score and credit history. |
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Retirement plans established under Section 403(b) of the Internal Revenue Code, commonly referred to as 403(b) plans or "tax-sheltered annuities," have become a popular type of employer-sponsored retirement plan. |
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Retirement plans established under Section 401(k) of the Internal Revenue Code, commonly referred to as "401(k) plans," have become one of the most popular types of employer-sponsored retirement plans. |
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Wills: The Cornerstone of Your Estate Plan If you care about what happens to your money, home, and other property after you die, you need to do some estate planning. There are many tools you can use to achieve your estate planning goals, but a will is probably the most vital. |
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Creating an Investment Portfolio You've identified your goals and done some basic research. You understand the difference between a stock and a bond. But how do you actually go about creating an investment portfolio? What specific investments are right for you? What resources are out there to help you with investment decisions? Do you need a financial professional to help you get started? |
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Establishing a Financial Safety Net In times of crisis, you don't want to be shaking pennies out of a piggy bank. Having a financial safety net in place can ensure that you're protected when a financial emergency arises. One way to accomplish this is by setting up a cash reserve, a pool of readily available funds that can help you meet emergency or highly urgent short-term needs. |
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An individual retirement arrangement (IRA) is a personal savings plan that offers specific tax benefits. IRAs are one of the most powerful retirement savings tools available to you. Even if you're contributing to a 401(k) or other plan at work, you might also consider investing in an IRA. |
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Estimating Your Retirement Income Needs You know how important it is to plan for your retirement, but where do you begin? One of your first steps should be to estimate how much income you'll need to fund your retirement. That's not as easy as it sounds, because retirement planning is not an exact science. Your specific needs depend on your goals and many other factors. |
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Evaluating Mutual Fund Fees and Expenses When you're choosing among mutual funds, you should take into account what the fund will cost you in fees and expenses. The higher those costs, the better the fund's performance needs to be to compensate for them. A 1 percent difference in expenses may not seem important, but that 1 percent can have a substantial impact on the value of your investment, especially over the long term. |
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When developing your estate plan, you can do well by doing good. Leaving money to charity rewards you in many ways. It gives you a sense of personal satisfaction, and it can save you money in estate taxes. |
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Many parents pay for college with a combination of current income, savings, and financial aid. By learning the basics of financial aid, you'll be able to understand how the aid process works and compare the aid awards your child receives. |
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If you give away money or property during your life, those transfers may be subject to federal gift and estate taxes and perhaps state gift tax. |
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Conventional wisdom says that what goes up, must come down. But even if you view market volatility as a normal occurrence, it can be tough to handle when it's your money at stake. |
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Consolidated Appropriations Act On Sunday, December 27, 2020, the Consolidated Appropriations Act, 2021 (CAA 2021) was signed into law. A $900 billion emergency relief package is included as part of this omnibus spending bill. It is intended to assist individuals and businesses during the ongoing coronavirus pandemic and accompanying |
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By definition, estate planning is a process designed to help you manage and preserve your assets while you are alive, and to conserve and control their distribution after your death according to your goals and objectives. |
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