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Napkin Finance

@napkinfinance

Everything you need to know about money in 30 seconds or less.

On a napkin Katılım Mayıs 2015
1.1K Takip Edilen6.5K Takipçiler
Napkin Finance
Napkin Finance@napkinfinance·
Rolling over funds from your 529 to your IRA must meet current annual contribution requirements. The current maximum IRA contribution is $6,500 per year, so it would take you just over 5 years to roll over the full amount. #napkinfinance #collegesavings #retirement
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Napkin Finance
Napkin Finance@napkinfinance·
The Secure Act 2.0 has changed the rules for 529 plans. Starting in 2024, beneficiaries with a 529 account that have been open more than 15 years can begin to roll up to $35,000 into a Roth IRA in their own name.
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Napkin Finance
Napkin Finance@napkinfinance·
📣 NEW UPDATES on #529 Plans due to the Secure Act 2.0 [a thread]
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Napkin Finance
Napkin Finance@napkinfinance·
Creating a #budget, but not sure where to start? Try using the 50/20/30 rule! 50% of spending goes to essentials (food, housing, medical) 20% goes to financial goals (retirement, savings) 30% is discretionary (shopping, vacation, out to eat)
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Napkin Finance
Napkin Finance@napkinfinance·
"I love Napkin Finance! It is the easiest way to become financially literate. Every family should have a copy and play a weekly 'Napkin Night.' How could money be this simple and fun?" - @Nely_Galan (NY Times Best Selling Author of Self-Made)
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Napkin Finance@napkinfinance·
5️⃣ Make your first deposit. You can set up automatic recurring deposits, or manually add additional funds when available.
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Napkin Finance
Napkin Finance@napkinfinance·
4️⃣ Pick your investments. You can change how the money in the account is invested, but only twice a year.
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