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05.06.09 529 = College? Posted under: Loans Posted by: Will.i.x

There’s a pretty cool, although slightly intimidating looking, web site out there called SavingForCollege.com The site is run by an informative fellow by the name of Joseph Hurley. Hurley has also written a terrific book on the same subject, The Best Way to Save for College. The web site tends to be a little easier to digest—but the book is always good reference to put in your master library next to all those Harry Potter books (don’t be acting like you don’t know what I’m talking about).

What’s a 529? Short story: it’s a education savings plan operated by a state or educational institution designed to help families set aside funds for future college costs. Because it doesn’t matter what school you go to, college is tré expensive. At some schools, the cost to attend full-time for just one year is equal to buying 150 iPod Touch’s. That’s a lot of touchscreen love there.

Now that doesn’t mean you have to pick what college you’re going to when you’re six years old or anything, for all intents and purposes a 529 is a 529 is a 529. Did I mention this is a 529? Basically they are like a prepaid or savings plan solely for the purpose of school.

Hurley’s site gives some great quick info on the subject and points you in the right direction for getting one for yourself. Although hopefully in your case, you’ve got one rolling along already, since you’re so close to ‘that age.’ But if all else fails it’s never too late to start, plus you can recommend it to your parents for any little brothers or sisters you have. Then you look like the hero of the day, good karma goes around I tell you.

529s aren’t the only way to pay for college, but they are one way that helps make it easier to pay. The schools will get you one way or another. And the less ways you allow them to run rampant through your fundage, the better.

MissMC

1 Comment »

Grade School Entrepreneurs Posted under: Entreprenuer Posted by: Will.i.x

OMG have you seen these kids featured on the Forbes web site? Gone are the days of lemonade stands, dog walking, paper delivery or lawn-mowing. These kids even make the mighty Bill Gates look as though he started too late in life (he started at 17 with his Microsoft thing you know).

I agree that it’s never too early to start a money-making idea, but if your first idea or two doesn’t work out, don’t get depressed or get disheartened. Lots of business ideas and entrepreneurships start up and fail but with persistence you can certainly make things work out in the end. The important part is to make sure you have a vision, something you -honestly- enjoy doing. Because if you can combine stuff with love with something people want, the money will come easy. Bank on that my friends.

MissMC

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