You are in the Retirement home stretch – 3 tips to keep in mind.
70 IS your magic number!
Why delaying retirement until age 70 makes a difference to you.
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Q: We have remaining student loans @ 3.9% – should we increase our payment to that so we can pay it off faster or should we put the extra savings toward our kids 529?
A:
Depending on the current value of your home vs. the mortgage, PMI may be necessary. Generally, if the mortgage is greater than 80% of the value, PMI will be required.
Q:
How can I open a 529 account but not have it count against my child if he wants to apply for scholarships?
A: If the owner of the 529 account is your Parents, a sibling, or a trusted friend with your child as the beneficiary, then it will not have to be reported.