I know that as the year winds down, the only savings that most of y'all are interested in are what you can shave off the retail price of the presents on your Christmas list.
But I do want to take a few minutes to mention other savings, like those for retirement and your kids' college education. As the stock market tumbled, those types of accounts took big hits.
First, folks bailed out of 401(k) workplace retirement plans, either by no longer contributing or actually taking money out.
Now 529 college savings plans are encountering the same fate.
I discuss this unfortunate savings U-turn in 529 plan dropouts, my latest post on my Bankrate blog Eye on the IRS.
If you have some time between finding recipes for turkey leftovers and putting finishing touches on your holiday decorations, give it a read.
And think seriously about starting to rebuild your depleted savings, be they for your own nest egg or your children's higher learning.
Remember, the tax code does help you out in these areas. Don't let Uncle Sam's saving gifts to you go to waste.
- 401(k) Do's and Don'ts
- Coping with market chaos and shrinking 401(k)s
- Companies dropping 401(k) match
- 529 facts
- School's back, along with the bills
- Rags, riches and college costs
- Eye on the IRS on Don't Mess With Taxes
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