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Saving for Education

Custodial Account Pros and Cons and Common Alternatives

Once you understand the basics of custodial accounts, it's important to know when UTMA and UGMA accounts are appropriate to use as well as be aware of common alternatives.  Understanding the pros and cons of custodial accounts is a great place to start. There are some great advantages to using a custodial account.  Here are [...]

What is a Custodial Account: UTMA Account vs UGMA Account

In the U.S., there are two main types of custodial accounts for minors: UGMA accounts and UTMA Accounts.  So what is a custodial account and what is the difference between a UTMA account and a UGMA account? In many jurisdictions, minor children are not able to enter into legal contracts like an adult can.  Therefore, [...]

Upromise: A Review of Upromise.com Cash Rewards

Do you want to earn some free cash?  Then consider signing up for the Upromise.com cash rewards program.  As my Upromise review below explains in more detail, this is a free program that rewards you for everyday purchases that you are already making, such as online purchases, eating out, and buying groceries.  Those rewards are in [...]

529 Plan 101: The Basics of 529 Plans

529 Plan 101: The Basics of 529 Plans

People use a variety of different investment vehicles to save for their children’s education, including IRAs, custodial accounts, and 529 plans.  529 plans are by far the most popular option.  So what is a 529 plan and how does it work? Saving for a child or grandchild’s education can be very important.  However, it may [...]

Saving for College

Saving for College

I think most people understand the value of a good college education.  However, college costs are increasing much faster than inflation.  It wouldn't surprise me if some toddlers today face future tuition bills of $200,000, which puts increased importance on saving for college now. Saving for college is made more difficult by the fact that you have [...]

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