Mother’s Day and 529 college savings plans

Why not celebrate your sisters, daughters and other mothers by adding to their kids’ college savings?

Time to read: 2 min

Sunday, May 12 is Mother’s Day, providing an opportunity for those everywhere to celebrate the special mothers in their lives. And when I say mothers, I do not mean just yours — I mean any wonderful woman in your world who is a mother. Someone who nurtures, provides and loves without hesitation or qualification. This could be your sister, daughter, best friend or even a cousin twice removed.


Witnesses at House hearing say SEC’s Regulation Best Interest needs to be improved

Participants at the March 14 hearing argued for improvements to the SEC’s proposal

Jon VoglerWitnesses at a March 14 hearing held by the House Financial Services Subcommittee on Investor Protection, Entrepreneurship, and Capital Markets called on the Securities and Exchange Commission (SEC) to strengthen its investment advice reform proposal.


Five things to know about the 529 Ten Dollar Challenge

Small contributions to education savings accounts can add up over time

Several years ago, I read an article1 that detailed what you can do with $10 around the world. The author challenged her fellow reporters across the globe to see how far $10 could take them. From two sub sandwiches in Connecticut to two days of groceries in the Philippines, the answers varied widely depending on each reporter’s location.

That interesting perspective stuck with me over the years, so when I caught wind of another $10 challenge, I was all ears. Aptly named the 529 Ten Dollar Challenge, this initiative was created to raise awareness of one of my favorite topics — 529 plans — by showing that even small contributions to education savings accounts can add up over time. Education savers are currently participating by posting photos of themselves with $10 bills to social media and using the #529TenDollarChallenge hashtag.


Fewer households could face retirement savings shortfall

A new study shows that the projected retirement deficit for US households has somewhat improved

Jon VoglerThe projected retirement deficit for US households has improved somewhat, though some remain at greater risk than others, according to new data from the Employee Benefit Research Institute (EBRI).


Study highlights late-life financial risks for retirees

Reliance on 401(k) accounts may be tested by out-of-pocket costs and increased longevity

Jon VoglerTime to read: 2 min

As life expectancy rises, more people will face late-life financial risks for which they may be unprepared, according to a new report. The study for the Center for Retirement Research (CRR) at Boston College highlights risks faced by Americans aged 75 and older, a population that is projected to more than double by 2040. These risks include high our-of-pocket medical expenses, an increased possibility of financial mistakes due to declining cognitive abilities and the prospect of widowhood.


Should you save or spend your tax refund?

This tax season, consider putting your refund toward a 529 plan

Time to read: 2 min

Tax season is upon us, and if there’s one upside to all that paperwork, it’s the prospect of receiving a tax refund.

According to the IRS, the average tax refund in 2018 was $2,899.1 Many consumers view this “extra” money as a kind of windfall, or unexpected gift. However, a tax refund is called that for a reason; after all, it represents money that was overpaid to the government. In reality, it’s simply a return of the interest-free loan you effectively granted the government the previous year.