Withdrawing money from your retirement funds such as a Roth IRA or a 401(k) prior to the age of 59 ½ usually comes with a hefty tax penalty. But if you know the rules, there are ways to minimize the penalties.
Nearly everything we own and use for personal or investment reasons is considered a capital asset. Capital assets include a home, household furnishings as well and stocks and bonds in a personal account.
While the many joys of becoming a parent are priceless, the cost of clothes, furniture, insurance and other necessities can add up to a pretty penny and fast. Saving and budgeting early for your new arrival can help when it actually comes to providing for your new baby.
A 401(k) is a type of retirement savings account, while the 529 plan was created to help families set aside funds for future college expenses.
You can start introducing your kids to money in many different ways. Once they reach school age, start teaching them the fundamental concepts of money, then you can move onto different ideas of credit and investing.