College, Resources

My Check From Upromise Arrived

As I mentioned a few months ago, I recently sent a letter to Upromise, requesting a withdrawal from my account. I am proud to say, I received a check from Upromise last week, and I’ve now deposited that check into my savings account. I have been using Upromise to earn reward dollars for more than five years.  Instead of investing my reward dollars with a 529 Plan, I withdraw my reward dollars, once a year, and deposit them into my savings account. Please click here to read more about how to request a withdrawal from Upromise, and here to sign up while UPromise is giving away 500,000 for College. For someone like me, who doesn’t use credit cards, Upromise is…

Continue Reading
College

Sticking With TD Ameritrade

I mentioned in the last article that I would be opening two Education Savings Accounts – one for my son and one for my daughter.  I had been planning to open the accounts with Vanguard – the same brokerage that has my SEP-IRA – but I’ve decided to stick with TD Ameritrade – the brokerage where I already have my oldest daughter’s ESA.  While I really like Vanguard’s services, TD Ameritrade offers ESAs with no minimum contributions.  Vanguard, on the other hand, requires a $1000 minimum initial investment.  Right now, I just don’t have $2000 (for 2 accounts) sitting around,  and I don’t want to wait to open the accounts.  TD Ameritrade offers several no-transaction-fee index funds, my preferred investment…

Continue Reading
College, Goals, Retirement

Retirement And Education Savings Goals

Here are my after-tax retirement and education savings goals for 2008/2009/2010. Contributions to Roth IRAs and ESAs can be made from December of one year until April of the next year. I have three children, and I have five months to fully-fund 2008 ESAs for each of them. I’m not sure if I’ll be able to afford to do this, but I’m going to try. Also, my wife needs to fully-fund her Roth IRA for 2008. Once those accounts have been funded, we’ll get to work funding 2009 accounts. The chart should clarify. (Chart corrected.) Month ESA 1 ESA 2 ESA 3 Roth 1 Roth 2 Totals Dec 2008 $400.00 $400.00 $400.00 Funded $1,000.00 $2,200.00 Jan 2009 $400.00 $400.00 $400.00…

Continue Reading