Tip of the Day

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  • 10 Money Tips for College Grads

    Written by Guest Blogger | August 27, 2014

    By Brian Page, a nationally celebrated financial educator and advocate.
    He is currently developing a Financial Skills blended learning program for LifeDojo. You can follow him on Twitter @FinEdChat.

     

    1. Invest for retirement right away by fully matching your employer’s retirement plan

    • Explore the magic of compounding by calculating what would happen if you invested $10 a day ($3,650 a year) beginning at age 22, earning the market average of 7%.
    • Be alarmed by what happens if you invest and earn the same amount but wait until you are 35 to begin to invest.
    • Get motivated by the returns you would experience by contributing 5% of your income beginning at age 22, and benefiting from a matching contribution of an additional 5% of free money from your employer earning the market average of 7%. The free money match is the greatest advantage of a 401(k) or 403(b).
    • Use this handy list of questions when interviewing financial planners. Above all, make sure your financial planner adheres to the fiduciary standard, legally binding them to put your best interest ahead of their own.
    • To learn more, have a peek at the Department of Labor new job Entrants guide.
    Read more...
  • Saving For College? These Plans Make the Grade

    Written by Guest Blogger | August 26, 2014

    Lori Schock, Director, Office of Investor Education and Advocacy, U.S. Securities and Exchange Commission

    Parents looking for a way to save for a child's college education should consider investing in a 529 plan. Authorized by Section 529 of the Internal Revenue Code, these are tax-advantaged savings plan sponsored by states, state agencies and educational institutions, designed to encourage saving for future college costs.

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  • Planning for College Expenses

    Written by Guest Blogger | August 20, 2014

    By Laura M. Frey, LMFT, Ph.D. Candidate, Department of Family Sciences, University of Kentucky and Jennifer Hunter, Ph.D., University of Kentucky Family Finance Extension Specialist

    Roughly two-thirds of students enroll in college the fall after graduating from high school. For many of us, planning for college expenses often gets put on the back burner while trying to pay for other expenses that occur during high school.

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Written by Super User | November 25, 2013

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Regular Savings is the Key to Success

Written by Super User | November 26, 2010

My name is Chris Strong. I joined the Air Force on 25 March, 1985. On that day, my financial life changed forever. I was introduced to saving bonds in Basic Training. Savings bonds were the big thing back then just like the Thrift Savings Plan is today. A Colonel gave us a briefing. I cannot remember his name but I can remember the 100 savings bonds he had posted to a piece of card board. He gave us a speech on the importance of saving money and how it can change your life. He inspired me to save.

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Money on the Side

Written by Super User | November 26, 2010

Camp Arifjan, Kuwait -- A colonel in the 1st Theater Sustainment Command has money on his mind.

Army Col. George Fields, the Chief of Intelligence, or G2, has been teaching a free "Managing Your Money" class here in his spare time. More than 400 students have attended his six week-long class to learn more about increasing their own finances.

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Meet Wacinque BeMende

Written by Super User | November 26, 2010

Meet Wacinque BeMende. He’s so passionate about encouraging savings and promoting financial literacy, he’s established his own Kid’s Savings Program. Wacinque donated $15,000 to the Community Action of Laramie County in Cheyenne Wyoming to begin the Wacinque “ Rhino” Fund Endowment to help kids open savings accounts.

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