Article Presented by:
Copyright © 2009 Brendon Turner
How many times have you looked around your home, frustrated with the state it's in, but knowing you just don't have the cash to fix it up? It's a common problem, particularly these days when there are so many people out of work. Homes need constant upkeep and if you experience a severe storm or other event that leaves your house in shambles, it can get very costly very quickly. Government grants for home repair are often rumored to be a myth, but they actually do exist.
Government grants for individuals are not that abundant, so it can be fairly difficult to find them. There are many lists out there with government grants, but many of these are not complete and may not give you the information that you seek. Take some time to find the right grant list that is comprehensive and you will discover a number of financial opportunities that you never knew existed. If that means you have to pay a fee to get the list, then consider it an investment. After all, the amount that you will receive from using that list is considerably more!
The problem with this type of funding is that most people just don't believe the government would give away money to anyone. And the truth is, they don't. You have to apply and only if you pass the application process will you be awarded the money. That's why it is so very important to do a good job on your government grant proposal.
Your application is going to be what the decision makers use to decide if you deserve grant money or not. The process is the same, whether you are applying for grants to pay debts, renovate your home or simply start up a business. You'll need to give very good reasons for needing the money, as well as telling the government just what you intend to do with the grant if you are chosen. How you spend the money will be greatly dictated by what you say in your proposal, so keep this in mind when writing it.
You'll also need to provide timelines and a proposed budget. If you are like most homeowners, you probably already have the pricing for everything worked out so you can provide this information fairly easily. There are many other areas of the proposal that need to be covered, though. In order to make a good decision, the powers that be need specifics and details on everything you plan to do and this takes time to write up.
With the right information, a good list of government grants for home repair and some patience, you can apply for and get funding to repair or renovate your home.
About the Author:
Need help with applying for government grants for home repair? Government Grants Source not only offers a full list of government grants and other sources of funding, but also includes audio and video tutorials on how to apply for those grants. Written by Brendon Turner for http://www.governmentgrantsource.net/
Read more of Brendon Turner's articles.
Saturday, November 14, 2009
Thursday, November 5, 2009
Why 529 College Savings Plans Still Make Sense
Article Presented by:
Copyright © 2009 Charles Montgomery
When the economy went sour and took the stock market with it, lots of pundits came out swinging against 529 college savings plans.
"You see, you saved all this money for college and now it's gone," they exclaimed. They claim that investing for college in stocks is risky and, therefore, shouldn't be done at all.
Like anything, using black and white criteria is a mistake. In fact, it's a mistake not to take advantage of the tax benefits of 529 plans. You just need to do it smartly.
Stock investing is long term investing. How long is long term? At least 10 years. If you open a 529 plan for your child or grandchild when they're born, that gives you about a 20 year horizon. That's long enough to invest in stocks.
But that doesn't mean you should sock all of it into a risky stock mutual fund and let it ride until your child enrolls in college. Instead, you need to gradually move your investments into less risky asset classes.
Many 529 plans will do this for you. These target-date funds put most of your money in stocks to begin with and then move it into treasuries, bonds, and other asset classes as you get closer to needing to withdraw it.
One fair criticism of target date funds is that they might not be conservative enough with investments as you get closer to your target date. That's fair, which is why you need to research how your fund works. Don't just put everything on autopilot.
I personally manage the target dates myself. I'm still investing in my daughter's 529 account each month, one hundred percent in stocks. When she gets a little bit older I'll move some of this into less risky investment options. Then when she gets to within a few years of college, I may move it all into FDIC-insured assets. Whether or not I do this depends on how much I'll rely on that money to pay for college. If I have significant savings elsewhere, I'll keep the 529 in slightly more risky assets.
It's important to not overlook why 529 plans are such a great investment vehicle for saving for college. The tax benefits are extraordinary, especially if you live in a state that levies income tax and also offers 529 plan tax benefits.
First, you get federal income tax benefits when you withdraw your money to pay for qualified education expenses, such as tuition. You don't pay any tax on the capital gains and investment income. This applies to everyone with no income limits.
Second, some states will give you a tax deduction or credit when you contribute money into your plan, in addition to not paying tax when you pull the money out. That means you get a financial benefit today...not just 20 years from now.
You shouldn't necessarily invest in your states' 529 plan, even if they offer these tax benefits. It's important to search for the state that offers the ideal mix of investment options and fees for you.
But don't ignore saving for college with 529 plans just because of an alarmist news headline warning you to stay away. It's simply not sound advice. You just need to be smart about how you invest.
About the Author:
Charles Montgomery writes for 529s.com, an online resource for parents and grandparents research 529 plans. At 529s.com you can download a free report: 5 Biggest 529 Plan Mistakes. Learn more at: http://529s.com/
Read more Articles written by Charles Montgomery.
Copyright © 2009 Charles Montgomery
When the economy went sour and took the stock market with it, lots of pundits came out swinging against 529 college savings plans.
"You see, you saved all this money for college and now it's gone," they exclaimed. They claim that investing for college in stocks is risky and, therefore, shouldn't be done at all.
Like anything, using black and white criteria is a mistake. In fact, it's a mistake not to take advantage of the tax benefits of 529 plans. You just need to do it smartly.
Stock investing is long term investing. How long is long term? At least 10 years. If you open a 529 plan for your child or grandchild when they're born, that gives you about a 20 year horizon. That's long enough to invest in stocks.
But that doesn't mean you should sock all of it into a risky stock mutual fund and let it ride until your child enrolls in college. Instead, you need to gradually move your investments into less risky asset classes.
Many 529 plans will do this for you. These target-date funds put most of your money in stocks to begin with and then move it into treasuries, bonds, and other asset classes as you get closer to needing to withdraw it.
One fair criticism of target date funds is that they might not be conservative enough with investments as you get closer to your target date. That's fair, which is why you need to research how your fund works. Don't just put everything on autopilot.
I personally manage the target dates myself. I'm still investing in my daughter's 529 account each month, one hundred percent in stocks. When she gets a little bit older I'll move some of this into less risky investment options. Then when she gets to within a few years of college, I may move it all into FDIC-insured assets. Whether or not I do this depends on how much I'll rely on that money to pay for college. If I have significant savings elsewhere, I'll keep the 529 in slightly more risky assets.
It's important to not overlook why 529 plans are such a great investment vehicle for saving for college. The tax benefits are extraordinary, especially if you live in a state that levies income tax and also offers 529 plan tax benefits.
First, you get federal income tax benefits when you withdraw your money to pay for qualified education expenses, such as tuition. You don't pay any tax on the capital gains and investment income. This applies to everyone with no income limits.
Second, some states will give you a tax deduction or credit when you contribute money into your plan, in addition to not paying tax when you pull the money out. That means you get a financial benefit today...not just 20 years from now.
You shouldn't necessarily invest in your states' 529 plan, even if they offer these tax benefits. It's important to search for the state that offers the ideal mix of investment options and fees for you.
But don't ignore saving for college with 529 plans just because of an alarmist news headline warning you to stay away. It's simply not sound advice. You just need to be smart about how you invest.
About the Author:
Charles Montgomery writes for 529s.com, an online resource for parents and grandparents research 529 plans. At 529s.com you can download a free report: 5 Biggest 529 Plan Mistakes. Learn more at: http://529s.com/
Read more Articles written by Charles Montgomery.
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