Keep It in the Family: How to Pass on Money and Assets to Family Members
Creating a plan for how you will pass on money or other assets (anything you own) is called estate planning. Many people think that if they don’t have a lot of money or assets (like homes, cars, and jewelry), they don’t have an “estate.” But the fact is we all have an estate. How you…
Read MoreWhat is an Opportunity Cost?
Opportunity cost is an economics concept with huge implications in every aspect of our lives. To put it simply, when you say “yes” to one thing, you are saying “no” to another. Opportunity Cost in the Real World Let’s try an example. Say your goal is to build healthier habits by exercising every day. When…
Read MoreMy kids are 4 and 7. Is it too late to open a 529?
“My son is 7 and my daughter is 4. Is it too late to invest in 529 plan for them? What would be a better alternative to save for their college and financial future?” Submitted by Stella D. It is never too early or too late to start saving for college (or for anything, for…
Read MoreMyRA savings accounts are being discontinued. What should I do?
“I enrolled and contributed to myRA (Roth IRA) since August 2016. The myRA.gov program is now being shut down. What should I do with my only Roth IRA/ Retirement investment?” Submitted by Brian H. Admittedly, my heart was broken when the announcement about shutting down myRA® retirement program hit the news. It wasn’t perfect, but…
Read MoreHow a Dedicated Savings Account Can Help You Save
It may seem obvious, but it’s easier to save money in a savings account! When you sign up for SaverLife, you have the option to link either a checking or savings account. But if you read the fine print, you may notice that we suggest using a savings account. Here’s why: our research shows that…
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