savings

New Year’s Resolution: 3 Easy Tips to Be Financially Fit in 2014

New Year's Resolution

“Ring out the old, ring in the new,

Ring, happy bells, across the snow:

The year is going, let him go;

Ring out the false, ring in the true.”

― Alfred Tennyson

It's that time of year to make a promise to yourself to start doing something good or stop doing something bad on the first day of the year. Nearly 50% of Americans regularly make New Year’s Resolutions; and according to the Fidelity 2014 New Year Financial Resolutions Study, an all-time high 54% of Americans say they are considering resolutions regarding their finances. Here are three simple tips to help keep you financially fit in 2014.

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Grandparents’ 529 College Distributions Can Be a Ticking Time Bomb

Are you a grandparent thinking of helping out a grandchild fund their college expenses? Be aware of 529 plan structures to ensure that your gift doesn’t turn into a bomb that destroys your grandchild’s financial aid.

According to a recent Fidelity Investments survey, 65% of parents saving for college expect grandparents to contribute. In recent years, a growing number of grandparents have set up 529 college savings plans but before writing a check, grandparents must be aware of the potential pitfalls. Grandparents shouldn’t have to worry about their 529 gift but many websites don’t explain things clearly and many people are shocked when things go seriously wrong. Don’t be left like tennis legend John McEnroe who famously stated “You can’t be serious!”

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Saving For College 529 Plans with Upromise

Saving For College 529 Plans with Upromise

As a new father, I marvel at all the new things my one year old daughter Chloe does. But like all new parents, I joke and mostly fear that the cost of education will be in the millions by the time she graduates high school. While I pray that education inflation slows from its ridiculous pace of 7%+ per annum, I know that I need to prepare for the worst which means saving as much money as possible sooner rather than later.

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