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Getting Personal
Getting Personal
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About the author
Tess Vigeland is the host of Marketplace Money, where she takes a deep dive into why we do what we do with our money. Follow Tess on Twitter @radiotess
A little over a month ago I poured my entire retirement into a bond fund, a Treasurey Inflation Protected Security fund. This TIPS fund has lost about 10% since I owned it. I was shocked how fast it dropped! I will start using this money in 2 years. I fought the urge to sell out. I'm inclined to hold this fund until I need the money. What advice can you give?
My name is John. I lost my wife Beth of 26yrs after a 8 1/2 year battle with Breast Cancer. I went through my retirement trying to keep up with all our bill's. We refianced our house two weeks before she died. She didn't want medical bill's over my head. I am trying to sell my house but in Michigan as you know thing's are tough. She died March 19th of 2007. I just remarried Aug 8th 2008. How can I hang on as I am waiting to try to do a short sale on my house. I am making about half house payments to keep lender off my back as long as possible.
When I found this out from a friend I was surprised—that participating in a 529 can hurt those apply for financial aide. (see the link below). I suppose this article could be incorrect—I'm not an expert but it seems pretty credible to me. I have to say in light of this information, your advocacy of these instruments anger me. the only thing that this article doesn't address is the tax savings on this—which I don't think will make up for the loss in aid. I feel you owe your listeners a story of some sort on this since I feel like this information is not well known.
http://ezinearticles.com/?529-Savings-Plans,-Trick-or-Treat?&id=523440
