How do you look at your retirement account? As untouchable or money that's available for 'just in case?' Surprisingly, many Americans believe in the later.
According to a recent survey by Magnify Money more than half of Americans have raided their retirement accounts early.
While taking money from a retirement account to pay debts, buy a house or pay for college may seem reasonable, it is often not a wise financial move.
School is back in session, and while it may be a time of joy for parents, it also can be a drain to their pocketbooks.
Educating our kids is expensive; tuition, supplies, computers and housing all adds up fast. But if you planned and funded a 529 account for your kids or grand kids, you might be pleasantly surprised to know that you can pay for more than just tuition with the money. Click on the link below for some IRS qualified expenses.
The opinions voiced in this material are for general information only and are not intended to provide specific advice or recommendations for any individual. All performance referenced is historical and is no guarantee of future results. All indices are unmanaged and may not be invested into directly.
Ben Knight, CFP®, Kathy Carpenter, CFP® and Diane Knight, CFP® are Registered Representatives with and Securities offered through LPL Financial, Member FINRA/SIPC.
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