Boost Savings with Great Federal Programs
It is difficult for millions of people in America to save money for the future. Forbes magazine recently published a report stating the approximately sixty-three percent of people in America claim they have difficulties in saving one thousand dollars in case of an emergency.
Struggles for so much of the population prompted the United States federal government to discover new ways of helping this situation. These agencies developed many new programs specifically designed for encouraging people of every age to start saving money.
Several popular programs are to follow.
Save Money for College
For those wishing to attend college in the near future, take full advantage of plan 529. The plan 529 creates tax savings designed for college students to pay their tuition.
The entire fifty states along with the District of Colombia have both sponsored a minimum of one variation of the 529 plan.
The 2 types of the 529 plan available are the pre-paid tuition and the college attendee savings plan. Investments of mutual funds cannot be guaranteed by the government and are not insured by the federal government, making losses a possibility. They also may not be subjected to taxes.
Save for Retirement
Approximately half of the United States employees are not eligible of 401(k) pensions. For those earning under $131,000 annually, an RA program may be a real asset.
Investment in Securities is called TreasuryDirect. Check out the TreasuryDirect website for more information on all the ways to save with Great Federal Programs.
529 Strategies for Grandparents