529 Plan and College Savings

Archive for February, 2006

Question: What are the income levels for a family-4 to reach lower mid-income, mid-income, upper mid-income?

What % of Americans fall into the classes of poverty, lower–upper mid incomes, wealthy, super wealthy? At what point can I think about saving for IRA’s or college funds?

Answer: I would start an IRA ASAP. People always regret not starting one sooner when they are older. My husband just opened up one and he’s 22, I have a 401k at work and I’m 24, which has about 1600 in it now, and his IRA is 1000$. Start as soon as you can!

Personal Finance-Saving Money, Investing, and Retirement Planning Part 1