Use This Nifty Net Price Calculator To Estimate College Expenses

how to determine what your favorite college will really cost after accounting for scholarships and financial aid

 

 

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The price of a college education has never been higher. According to the College Board, the average private college now costs over $34,000 per year. And that’s just for tuition and fees. Throw in room and board, books, and other expenses for four years and the total cost could exceed $250,000 by the time your future scholar walks across the graduation stage.

To complicate things, every school is different. Prices vary. Scholarship opportunities and financial aid vary as well. As I have said before, financial aid varies from school to school, family to family, and even student to student within the same family.

Even if you don’t believe you will qualify for any financial aid, you will want to use this nifty calculator to get an estimate of what you can expect to pay at the specific schools your student is considering. 

Why Financial Planning Is An Act Of Love

3 ways your financial plan says "I love you"

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According to the National Retail Federation, Americans will spend an estimated $19.6 billion on Valentine’s Day this year. With a little more than half of the American population participating in Valentine’s Day giving, that breaks down to about $143 per person.

While chocolates, candied hearts or a night out on the town can be great ways to express your love, I would argue that financial planning may be the ultimate act that says, “I love you and I care about you”.

Here’s why: 

Why A Roth IRA Should Be Part Of Your Retirement Income Plan

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Roth IRAs were created 20 years ago to give investors a way to invest for retirement that allowed for tax-free distributions after age 59 ½.

But they came with a catch.

These new IRAs were to be funded with after-tax contributions. Unlike traditional, tax-deductible IRAs and workplace retirement plans like 401(k) accounts, contributions to Roth IRAs are not tax deductible.

Since then, investors have debated whether it’s best to fund a Roth IRA or a traditional, tax-deductible IRA. Strong arguments can be made for both, but most financial professionals agree: whenever possible, the Roth IRA should be part of your retirement income plan.

Here’s why:

5 Financial Planning Lessons You Can Learn From A Super Bowl Champion

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On February 4th, 2018 the Twin Cities will host the 52nd Super Bowl at US Bank Stadium. Regardless of who wins that day, there is a lot that can be learned from teams and players that are at the top of their game.

Following are 5 financial planning lessons you can learn from a Super Bowl champion. 

2018 Marks the 20th Anniversary of the Roth IRA

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This January marks the 20th anniversary of the Roth IRA. First made available to investors in January of 1998, a Roth IRA is an individual retirement account funded with after-tax dollars that provides tax-free growth and income for retirement.

Because Roth IRAs are such an important part of many people’s retirement income plan, I have decided to make 2018 The Year of The Roth.