Y.E.S. Women's Expo

Click on the link below to learn more about this upcoming event. I am sponsoring and will be participating in this event. If you're a woman in business, you must not miss out! I hope to see you there.

http://www.littlepinkbook.us.com/event_yes.php

529 Plans Make College Funding Easier Than Ever

College education can be the key to a child’s or grandchild’s future, but the cost of that education can be astronomical. The average annual cost of college is expected to be three to four times current prices — $6,185 for a public college; $23,712 for a private college[1] – when today’s newborn starts college.[2] Feeling overwhelmed?

Luckily, now there are more ways than ever to start saving for college. The Uniform Gifts to Minors Act (UGMA), The Uniform Transfers to Minors Act (UTMA) Accounts, and Coverdell Education Savings Accounts (formerly known as Education IRAs) are just some of the traditional ways to fund college. In recent years, tax-advantaged Section 529 plans have become increasingly popular — helping to make saving for college easier than ever.

Section 529 Plans: State-Sponsored Saving Programs
All 529 plans are run by individual states in association with investment management companies. Depending on the plan, parents and other individuals may be able to contribute more than $250,000 per beneficiary, including earnings, toward the future tuition of a child. All assets, including earnings, under all 529-plan accounts established for the benefit of a particular beneficiary must be aggregated when applying the limit. While new contributions will not be allowed once this limit is reached, earnings, however, will continue to accrue. Maximum contribution limits are adjusted periodically.

Money in the account can be invested in more aggressive investments when the child is younger and moved to cash or more conservative investments as the child nears college age. Remember there are fees, charges and tax ramifications associated with a 529 plan, and the underlying investment options are subject to market risk and will fluctuate in value. Many plans require a $250 minimum to open an account, and accounts can be set up for monthly contributions. Plus anyone can contribute — and the money can be withdrawn to pay for tuition or fees at any accredited post-secondary public or private school in the U.S.

“Over a lifetime, the gap in earnings potential between a high school diploma and a B.A. exceeds $800,000.”

Benefits of 529 Plans
First, the contributor to a 529 plan retains control over it — which means that, unlike with some other college savings vehicles, the child cannot use their college money for other purposes.

Second, although contributions are not federal-income-tax-deductible, assets in a 529 account — including gains or earnings — can be withdrawn federal-income-tax-free for qualified educational expenses such as tuition, fees, room, board and some supplies. Some states offer residents favorable tax benefits for investing in their state plan. Consult your tax advisor about your particular situation. (However, keep in mind there are fees and charges associated with investing in a 529 plan.)

Start Saving Today
According to a 2007 College Board Study, Education Pays, people with a bachelor’s degree earn more than 60% more than those with only a high school diploma. Over a lifetime, the gap in earnings potential between a high school diploma and a B.A. exceeds $800,000. In other words, whatever sacrifices you make for your child’s college education in the short term will be more than repaid in the long term.

For more information about 529 plans and other products and services that can help you save for college, contact Samantha Jackson-Kittle, Registered Representative, NYLIFE Securities LLC, member FINRA/SIPC, a Licensed Insurance Agency at 14850 N. Scottsdale Rd. #400 Scottsdale, AZ 85254. 480.695.2891.
[1] The College Board, “2007–08 College Costs,” August 20, 2008.
[2] www.finaid.org/savings, FinAid Page, LLC, August 20, 2008.

529 Plans Make College Funding Easier Than Ever

College education can be the key to a child’s or grandchild’s future, but the cost of that education can be astronomical. The average annual cost of college is expected to be three to four times current prices — $6,185 for a public college; $23,712 for a private college[1] – when today’s newborn starts college.[2] Feeling overwhelmed?

Luckily, now there are more ways than ever to start saving for college. The Uniform Gifts to Minors Act (UGMA), The Uniform Transfers to Minors Act (UTMA) Accounts, and Coverdell Education Savings Accounts (formerly known as Education IRAs) are just some of the traditional ways to fund college. In recent years, tax-advantaged Section 529 plans have become increasingly popular — helping to make saving for college easier than ever.

Section 529 Plans: State-Sponsored Saving Programs
All 529 plans are run by individual states in association with investment management companies. Depending on the plan, parents and other individuals may be able to contribute more than $250,000 per beneficiary, including earnings, toward the future tuition of a child. All assets, including earnings, under all 529-plan accounts established for the benefit of a particular beneficiary must be aggregated when applying the limit. While new contributions will not be allowed once this limit is reached, earnings, however, will continue to accrue. Maximum contribution limits are adjusted periodically.

Money in the account can be invested in more aggressive investments when the child is younger and moved to cash or more conservative investments as the child nears college age. Remember there are fees, charges and tax ramifications associated with a 529 plan, and the underlying investment options are subject to market risk and will fluctuate in value. Many plans require a $250 minimum to open an account, and accounts can be set up for monthly contributions. Plus anyone can contribute — and the money can be withdrawn to pay for tuition or fees at any accredited post-secondary public or private school in the U.S.

“Over a lifetime, the gap in earnings potential between a high school diploma and a B.A. exceeds $800,000.”

Benefits of 529 Plans
First, the contributor to a 529 plan retains control over it — which means that, unlike with some other college savings vehicles, the child cannot use their college money for other purposes.

Second, although contributions are not federal-income-tax-deductible, assets in a 529 account — including gains or earnings — can be withdrawn federal-income-tax-free for qualified educational expenses such as tuition, fees, room, board and some supplies. Some states offer residents favorable tax benefits for investing in their state plan. Consult your tax advisor about your particular situation. (However, keep in mind there are fees and charges associated with investing in a 529 plan.)

Start Saving Today
According to a 2007 College Board Study, Education Pays, people with a bachelor’s degree earn more than 60% more than those with only a high school diploma. Over a lifetime, the gap in earnings potential between a high school diploma and a B.A. exceeds $800,000. In other words, whatever sacrifices you make for your child’s college education in the short term will be more than repaid in the long term.

For more information about 529 plans and other products and services that can help you save for college, contact Samantha Jackson-Kittle, Registered Representative, NYLIFE Securities LLC, member FINRA/SIPC, a Licensed Insurance Agency at 14850 N. Scottsdale Rd. #400 Scottsdale, AZ 85254. 480.695.2891.
[1] The College Board, “2007–08 College Costs,” August 20, 2008.
[2] www.finaid.org/savings, FinAid Page, LLC, August 20, 2008.

Husbands, Wives & Retirement

Retirement — The Dream: After a lifetime of hard work — raising the kids, sweating out the bills, and building a stable and secure life — you and your spouse will be able to enjoy your golden years doing the things you’ve always dreamed about.

Retirement — The Reality: It might be years of fun and leisure, but retirement can also be a time of financial difficulties, compounded by illness and loneliness.

An overly harsh view? Perhaps, but it’s prudent to prepare for the worst while hoping for the best. That’s why married couples need to arrange for their own (and each other’s) retirement security as early as possible. Much of this preparation has to do with recognizing the need to “send money ahead” to fund a comfortable retirement. But there’s more. Couples of all ages need to map out an understanding of the three possible stages of retirement.

Three Stages of Retirement
Stage 1 — Life as a healthy, retired couple. This is the ideal, the retirement dream that most couples envision. If they’ve planned well, they’ll have the money to do everything they’ve dreamed about doing. Unfortunately, “dreaming” is about as far as retirement planning goes for too many people.

Stage 2 — Living with a prolonged illness — possibly a series of them, as health deteriorates in later years. When one partner’s health begins to fail, the other becomes the caregiver. Worse, medical bills begin to soar. Without adequate medical insurance, the financial strain can be devastating.

Stage 3 — One partner dies, possibly leaving the survivor in a financially threatened position, unless proper plans have been made.

Planning Is the Key
The key to coping with the potential financial difficulties of retirement is early planning. If you and your spouse are aware of and prepared for these three stages of retirement, you shouldn’t run the risk of outliving your retirement funds. When the two of you consider retirement, also consider the financial aspects. Whether you’re just starting out on a life together or shopping for that perfect condo on the Gulf of Mexico, you’ll want to consider the following:

• Draft a will with your attorney and keep it current. It’s the starting point for all retirement planning.
• Take time to map out a retirement game plan together. Identify common goals and determine the methods for achieving them. The closer you are to retirement, the more specific your plans should be.
• Share information and responsibilities. Make sure both of you know where all the financial records are and how to access them.
• Send dollars ahead. Know the benefits of your pension and retirement plans, and Social Security. Then begin to build up a supplemental fund of your own. Take charge of your own retirement — a large portion of retirement funds may need to come from personal savings.
• Plan to properly conserve your estate. A will can only go so far. Estate taxes may erode a substantial part of your lifetime legacy — plan ahead to make sure your heirs receive what they deserve.
• Prepare for all possibilities. Life insurance, long-term care insurance and disability insurance (during working years) can be excellent ways to protect the retirement dreams you have.
• Have trusted professionals. It’s important to develop relationships with experts in several areas — legal, tax, insurance, and financial professionals are the people who can help you map out and fund your retirement plan.