Save for College with a 529 College Savings Plan

If you're sending  a kid to school this fall, there's a back-to-school product that every mom and dad needs to get -- a 529 college savings plan. A 529 college savings plan assists households make post-secondary education more achievable. Opening an account with 529 savings plan takes about 15 minutes, and the benefits are well worth the effort.

529 College Savings Plan

Whether the student in your life is moving towards a liberal arts degree at the University,  trades program at the Community College, or another program in another state completely, you now can make those expenses much easier to pay for in the future. 

What you do today can help in reducing the amount of financial obligation your student may  need to borrow tomorrow.

Growth is Tax Free

The 529 college savings plan is found in the federal tax code. With these strategies, you contribute money that gets invested and has the chance to grow tax-free over the years. 



Contributions and profits in the account can be withdrawn, tax-free, for certified instructional expenditures such as tuition, books, charges, room and board as well as computer systems. The account can be utilized at any school in the nation that is qualified to get federal financial assistance for its trainees.

Contibutions May Be Tax Deductible

If you save through The 529 college savings plan your contributions are deductible in some states that have an income tax. With a steady contribution and and some patience over the years you ccan actually end up with a tidy some of money for college.

Even small amount of money can go a long way. Contributing simply $25 each month from a young age can amount to countless dollars by the time your kid finishes high school. However if you're getting a late start, don't worry-- every bit helps.

By the way, anybody-- grandparents, other loved ones-- can add to your 529 account too.

The time to start saving for college is when your child is born. However saving now for future college costs is something that will repay in spades in the future.

Visit Whatisa529Plan.com for more information.

How to Keep Your Sanity while Navigating Through Bankruptcy

Getting stuck in the quicksand of debt and bankruptcy can make your life quite unbearable. Calls and letters from creditors, the possibility of a foreclosure or repossession are immensely stressful and can be quite hard to deal with. There are quite a lot of reasons why you should file for bankruptcy, but we’re sure you can name a number of those against this solution.

In modern world’s economy, bankruptcy is one of the critical stages any kind of business may undergo. When you have to repay your creditors, but you don’t have the resources or you’re unable to do so, bankruptcy may be the only way you can get something out of that situation.

It may be challenging to deal with bankruptcy, and it can be quite stressful, but it’s not impossible. We’ve scoured the web, and we’ve made a list of some great tips that may help you out with stress and anxiety during bankruptcy. 

The important thing to understand is that even if you have filed for bankruptcy, that doesn’t mean you’ll necessarily lose your company. So, without further ado, let’s dive in and learn how to deal with bankruptcy-induced stress.

Understand what’s ahead

The most important thing you should keep in mind is – what lies ahead. The best way to deal with stress and anxiety from a bankruptcy is to really understand what you are going into. 

Different countries and states have different bankruptcy laws and regulations, so make sure you completely understand the process before you file for one. This will help you avoid unexpected problems and quite a lot of stress induced by not knowing what to do next.




You have to start thinking ahead and planning in advance so you can deal with the bankruptcy in a proper way. In order to deal with the deadlines of your debts, you should think about overtime, multiple income streams and cutting down the leisure and luxury expenses from your budget. You will need to learn how to plan ahead in order to reduce the anxiety and stress that follows bankruptcy.

Keep an open mind and ask questions

Various studies have shown that one of the best ways to deal with your problems is to be open about it. If you’re open about what’s happening, you will reduce a great amount of stress that follows these proceedings. 

Quite a lot of people are letting their ego in the way and they choose to keep the fact that they’ve filed for bankruptcy a secret. This can affect their personal relationships in a bad way, and you need to know that bankruptcy is a solution, not a problem. You don’t need to go around yelling it proudly, but keep your close ones in the loop.

If you have any questions – ask them immediately. Ask your lawyer, or your trustee, and make sure you completely understand how things work. If you have any questions about the specific debts and which can be discharged, or you’re wondering why are your creditors still calling you after you’ve filed for bankruptcy – ask those questions right away. 

Get in contact with your lawyer, trustee or a third party. Contact someone you know that went through the similar procedure and get the answers you need. All of this will help you keep a clear head during this period.

Look for financial advice

As financial laws and regulations differ from one country to another, even from state to state, the best way to deal with too much stress and anxiety in these uncomfortable situations is to seek financial advice. There are lots of great free and cheap courses and classes that help you find any alternative to bankruptcy. 

There are some great solutions like Dean Willcocks Creditors voluntary liquidation or any other kind of deal with the creditors, so make sure you know everything before you decide to file for bankruptcy. Having a financial advisor can help you out deal with personal finances during the life after bankruptcy, and they can help you understand the better approach, and reevaluate your own.

Wrapping It Up

So, as you can see, however hard and stressful filing for bankruptcy may seem, it isn’t something you should be ashamed of, and it certainly isn’t something worth your health. This short guide aims to help you understand that there is life after bankruptcy and that life doesn’t have to be stressful and hard. 

It requires some planning and a bit of organizing, but there are countless examples of successful men and women who managed to make a business empire even after they’ve filed for bankruptcy, so, chin up, and start learning.

Why You Need Professional Financial Planning

Preparing financial plans professionally offers several advantages, including help to ease the concerns that you may have regarding your financial future. Financial plans enable people to balance their daily needs and long-term goals while increasing the prospects of securing their retirement. They can introduce financial planning to individuals in ways to achieving a sustainable retirement income and planning a legacy that will last.

Comprehensive Financial Plan

An effective financial plan should deal with both the present and future. You begin with your current situation in terms of assets, debts and other obligations. A financial plan considers the spending habits that you currently have, creates a viable budget and maintains emergency funding.

Aspects such as what you want to save for aside from retirement, college education for your children, home renovations and your investments are also considered. 

There are issues that deal with estate planning for the purpose of ensuring assets are distributed in accordance with your wishes and life insurance for minimizing risk.

Debunking the Myths of Financial Planning

Various misconceptions regarding financial planning exist, including the belief that comprehensive financial plans are prohibitive because of high costs. Some people think financial plans consist of generic solutions that have been present.

The reality is that financial plans are worthwhile investments in financial security and they are tailor-made to fit each individual situation. 

Financial planning advice is provided by qualified and experienced financial advisors. A financial advisor can help you create and implement a plan that will be reviewed regularly to track your progress. Click here for physician financial planning.

What to Expect from a Financial Plan

Different financial plans have their unique features but the process of creating them consists of a number of distinct steps. It is important to develop a view of what your current financial situation is before you determine financial goals within specified time frames.

The plan that is created should have clear actions and steps. When you implement the plan, follow it up to ensure that you remain on the right track. As changes in your life occur, you can consider changing your investments as well.

Importance of Financial Planning

A financial plan goes beyond managing your money. It involves identifying the goals in your life, including the ones you may already be thinking about and those that may not be apparent. The process will help you broaden your horizons and sort out priorities. It also gives you an opportunity to explore the goals that you and your family have.

Comprehensive financial plans consider the interrelated aspects of your finances such as the money you earn, money you spend, retirement planning, investments, taxes, insurance and estate planning to ensure that everything is coordinated.

Conclusion

Good financial plans should be actionable to give you solid steps that you can take towards your goals and understanding how to adjust in case your goals change over time. There are many parts in a comprehensive plan. These include a net worth statement, cash flow analysis, retirement plan, education funding, insurance coverage, income tax profile and an estate plan.

Putting a financial plan together requires expertise and time. Experienced financial planners gather pertinent information, evaluate your financial situation, provide recommendations, develop the plan and get your finances on track.

Bio

Joel Walsh is a freelance writer and content developer. He has worked with different sites on a range of digital marketing projects. He describes himself as an artistic person and likes to draw and paint whenever he can. Visit this site https://www.beamalife.com for more information.

Concrete Investments: 4 Tricks to Investing in Real Estate

Even when the market is down, investing in property can be lucrative if you take the time to do it right. Unfortunately, many people rush into these investments without realizing exactly how much is at stake. 

These four tricks will help you find the best possible real estate and protect your investment in the coming years.

Start Working on Your Credit Score

Unless you happen to have a substantial amount sitting in the bank, you will most likely need to borrow at least some money. When it comes to investment property, banks and other lending firms are extremely cautious of who they offer loans to. 



Tackling your outstanding debt, removing open debt accounts, and keeping your monthly income as consistent as possible could help you boost your credit score by quite a few points in the coming months. 

Over the next few years, those few points could save you thousands of dollars in interest.

Get Approved Early

One of the best ways to speed up this process is to get approved for the loan before you make any offers. As a general rule, most experts agree that investors should try to get approved for a property loan at least 30 days before the expected purchase date. 

That will give you plenty of time to make a bid and negotiate prices before the approval expires. Your lending company might take two or more weeks to approve your loan application, and the property you wanted to bid on could be gone by then.

Properly Insure the Property

Many investors don’t take insurance into account before making a purchase, and that can be a very expensive mistake. Your insurance is going to be your first line of defense against any accidents or injuries that take place on your property. 

Insuring investment property is much different than insuring a private residence, and you need to work with an experienced agent like Family Insurance Centers or someone similar to make sure that you have the proper coverage.

Work With the Pros

Investing in property without any outside help is time-consuming, stressful, and full of risks. Hiring professionals to inspect and manage the property will initially eat into your profits, but those pros can help you avoid major problems later on. 

You should also consider joining a real estate investment group or starting a local club. These property investment groups can get you started with years of knowledge and connect you with all the right professionals to help.
Property management companies can take care of issues such as screening tenants, evicting tenants, ensuring rent is paid on time, and minor maintenance problems.

These few tips and tricks will limit your risks, but there is always a chance that your investment will go sideways. That is why real estate investors should always have a backup plan for their property. 

Options such as living on the property yourself or renting it out to a loved one for a short period of time could help you get through any unexpected dips in the local real estate market.