*Don’t name your estate as heir. A retirement account’s heir typically must be a person (or a trust benefiting a person) for ...

A 529 plan, named after Section 529 of the Internal Revenue Code, is a tax-advantaged savings plan designed to encourage saving for future education costs. This plan is typically set up by parents, ...

Considering your eventual death and planning who will inherit your assets can be a difficult and uncomfortable task. In that process, though, it's important to manage your retirement accounts and ...

For retirement savers, adding a beneficiary to your 401(k) plan should be a top priority. A 401(k) plan beneficiary is the person or entity, such as a charity or trust, who inherits your 401(k) after ...

For most Americans, their retirement plan savings accounts are likely one of their largest and most important assets. And yet many do not give these accounts the attention they deserve when it comes ...

The SECURE Act of 2019 allows 529 college savings plans to be used for student loan repayment and registered apprenticeship programs, as this expands the traditional use of 529 pla ...

A 529 plan lets you kill two birds with one stone: You can save up for your child's college education costs while also earning a break on your taxes. But since there's a 10% penalty on top of income ...

The 529 Plan is a tax-advantaged savings plan designed to encourage saving for future education costs. The beneficiary of the plan is the individual designated to use the funds for educational ...

U.S. workers have stashed $6.9 trillion in their 401(k) plans as of Sept. 30, 2023, according to the Investment Company Institute, an association representing regulated investment funds. A healthy ...

The SECURE 2.0 Act, passed in 2022, made a major change to 529 plans. It gives families an alternative to paying a 10% penalty for non-educational withdrawals. There are conditions you need to be ...