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With colleges in crisis, is a 529 plan still your best savings bet?

Finance
Amid coronavirus and an economic crisis, saving for college may no longer be a priority — or even a necessity.With many families struggling to stay afloat, regular contributions to a 529 college savings plan could take a back seat to paying more pressing bills or daily expenses.At the same time, market volatility as a result of Covid-19 has taken a toll on account balances and even those people who continue to make payments toward future college costs may see less value in these accounts.The average account size is now $ 25,657, down from a high of $ 26,054 in 2019, but still roughly double what it was a decade ago, according to the mid-year data collected by the College Savings Plans Network.More from Personal Finance:Here's how to get more financial aidCollege students are w

Feeling altruistic? This tax strategy can keep Medicare premiums in check

Finance
FG Trade | E+ | Getty ImagesThis fall, older savers who are feeling generous may want to consider using their individual retirement account to help fund their favorite charities.There's an incentive for being altruistic: It could help retirees manage their Medicare premiums in 2022.People age 70½ and over can make so-called qualified charitable distributions from their IRAs. In this transaction, an IRA owner directs the custodian holding the account to transfer up to $ 100,000 to a charity.Private foundations and donor-advised funds — tax-advantaged funds for giving — are not eligible to receive qualified charitable distributions.More from Advisor Insight:Advisors help ensure fear of outliving money won't be realityWhen hiding things from your advisor is a bad ideaHere are 8 costly retire

Trump says he ‘prepaid’ his taxes. So do millions of other Americans. Here’s what that may mean

Finance
President Donald Trump and Democratic presidential candidate Joe Biden during the final presidential debate at Belmont University in Nashville, Tennessee, on Oct. 22.Jim Watson and Brendan Smialowski | AFP | Getty ImagesPresident Donald Trump isn't the only one who's "prepaid" his taxes. Millions of other Americans have, as well.At least that's the case if he meant paying quarterly estimated taxes, according tax experts.Talk of the president's income tax returns — and the $ 750 he reportedly paid in 2016 and 2017, per The New York Times — made its way onto the stage Thursday night during his final debate against Democratic candidate Joe Biden."I asked them a week ago," Trump said, referring to his accountants. "I said, 'What did I pay?' They said, 'Sir, you prepaid tens of millions of dol
SBI Card launches contactless multi-purpose card in partnership with Delhi Metro

SBI Card launches contactless multi-purpose card in partnership with Delhi Metro

Finance
NEW DELHI: SBI Card on Friday launched a contactless multi-purpose card in partnership with Delhi Metro that can function as a credit card as well as a metro smart card. The unique combo credit card 'Delhi Metro SBI Card' is thoughtfully designed for regular commuters on the Delhi Metro, SBI Card said in a release. The Delhi Metro SBI Card is a multi-purpose card which functions as a credit card as well as a metro smart card, offering the convenience and safety associated with both in one card, the pure-play credit card company said. Customers can apply for the combo card through the sales team present at metro stations as well as online through e-apply platform on SBI Card website at an annual fee of Rs 499, SBI Card said. The card offers benefits such as 2,000 bonus reward points and Rs ...

How to snare more income from your investments in a time of low Treasury yields

Finance
Luis Alvarez | DigitalVision | Getty ImagesGenerating income through safe investments like U.S. Treasurys was once was an easy move.Now, not so much.With yields on those government-issued bonds near zero, investors may need to add some risk to the income side of their portfolio."Twenty years ago, generating income was a one-trick pony," said Lauren Ferry, head of portfolio strategies at Nuveen. "We could just invest in U.S. Treasurys."The situation today is so much more complex."Zoom In IconArrows pointing outwardsSpeaking Tuesday at the CNBC Financial Advisor Summit, a day-long virtual conference for financial advisors, Ferry addressed how to enhance income in today's environment.Right now, the yield on the benchmark 10-year Treasury is below 1%. Shorter-duration Treasurys are as well: On...