Investments for Specific Goals
Saving and investing money is a good idea, no matter what
the end goal. Should you have a specific financial goal for
which you're saving, however, some investments are better
than others.
This is particularly true when accumulating money to pay
for college and/or retirement. That's because the government
views these as legitimate goals that not only help individuals
but also strengthen the nation's economy as well.
Consequently, the government provides specific tax advantages
for some investments and not others--as a motivator to encourage
people to save for targeted goals.
College Savings
Believe it or not, there are better ways to pay for college
than taking out a second mortgage on your house. Read on for
some of the newer plans offering tax incentives.
Retirement
40% of Americans believe that their best chance of providing
for retirement will be through winning the lottery. Alas,
there are better ways to increase your odds.
|
