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IRA or 529?
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Frugality Versus Frugal Spending
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Don’t Strike Out When Planning Your Future
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How much do you need to save this month?
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Grace and Frankie: Gray Divorce and Starting a Business

IRA or 529?

After my post last week (Higher Education Expenses Paid From an IRA) I received a question from a reader: “If it’s possible to pay QHEE from an IRA then why would it be beneficial to contribute to a 529 specifically?” In today’s post I’ll cover the reasons you might choose an IRA or 529 plan. These two types of account will help you prepare for the twin future requirements of retirement and college expenses.

As covered in the prior post, an IRA plan can be used in part to pay for college expenses. This is allowed in the …

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Frugality Versus Frugal Spending

I wanted to write a brief note on the difference between being frugal and frugal spending. I think it really boils down to the mindset of the individual. Frugality, in my opinion, is making smart purchases when necessary, and forgoing purchasing altogether if not. I also believe that frugality is making purchases that reduce the need to spend more in the future (i.e. buying a quality product for more money in order to reduce or eliminate repair expenses in the future).

Frugal spending, on the other hand, is buying something simply because it’s on sale or cheap – regardless of …

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Don’t Strike Out When Planning Your Future

Baseball is in “full swing” this time of year in my family’s household.  I enjoy watching my son express his love for the game (albeit a “love” far secondary to more important things in life).  One of his recent games reminded me how quickly – and inevitably – our best plans change due to forces outside our control.  Our reactions (or lack thereof) to unplanned events ultimately determine our success and this can be true with financial planning.

With the opposing team batting in the bottom of the first inning, the second batter singled after the lead off hitter was …

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How much do you need to save this month?

There are a few critical financial planning questions you need to be able to answer. Probably the most important is, “How much money do I need to save this month to meet my goals?” Many people don’t know the answer to this question and avoid it to the detriment of their long-term financial well-being.

Most Americans spend more time planning their vacation than their retirement. At least with a vacation, most of us pick a date and actually plan to go. Planning for retirement should be every bit as planned and anticipated as your vacation. Assuming you’ll work in your …

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Grace and Frankie: Gray Divorce and Starting a Business

The Netflix show Grace and Frankie chronicles what happens when seventy-something frenemies Grace and Frankie learn that their husbands were not only partners in a law firm but also romantically involved. The two men decide they want to live out their days together so they divorce their wives.

Grace and Frankie Show Us How to Retire in Style,” financial advisor David Rae looks at lessons from the show. One is that while you can make plans, you should expect the unexpected. Retirement planning is important because you can adjust when something unexpected happens. If you have made no plans Read More

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