Stuart Ritter
Stuart Ritter
additional benefit double learned learning less means modest money percentage retire save spend
Every additional percentage you save means you are learning to live on 1 percent less. You get a double benefit from it. You'll have more money to spend when you retire and you'll need less because you've learned to live a more modest lifestyle.
bills college estate figure money reduced savings shifting tax time
So now is the time to figure out if your estate tax bills can be reduced by shifting some money into your grandchild's college savings plan.
earnings pay taxes
You're going to pay taxes on the (withdrawn) earnings that you've accumulated. The government's also going to tack on a 10% withdrawal penalty.