Helping Grand-kids Pay for College – A Quick Course for Grandparents

helping grand-kids pay for collegeWith college tuition costs continuing to escalate, grandparents are taking a more active role in helping to fund a college education for their grandchildren via vehicles such as a tax-favored 529 savings plan. More than half (53%) of grandparents are saving or plan to start saving to help pay for college costs, Fidelity reports in its recent 2014 Grandparents and College Savings Study. All told, those grandparents indicated they expect to contribute a median of $25,000 in college education funds for all their grandchildren, with 35% anticipating contributing $50,000 or more. Given the financial ramifications of investing in a grandchild’s education, it’s … [Read more...]

Retired, But Not the Retiring Type

not retiring typeFor today’s generation of people who are nearing retirement or already there, the decision about whether to keep working isn’t as clear-cut as with prior generations. We live in an era where working during retirement is a viable option for people into their 60s, 70s and beyond, as findings from a 2013 study conducted by the Associated Press-NORC Center for Public Affairs Research make clear. The study found that 8% of people 65 or older are working in retirement now. Meanwhile, among those who are working and not yet retired, 47% said it is very or extremely likely they will work for pay to some extent; another 35% said it is somewhat likely. Just because a person has … [Read more...]