Dictionary 2017-01-23T08:54:45+00:00

Dictionary

I wanted to (finally) give you a money dictionary that doesn’t require a dictionary to understand the word’s definition. That doesn’t exist . . . so I made my own. You know how you explain a term to a friend who doesn’t “get” it? That’s the way it’s written here. Let this glossary be your go-to guide for definitions with a practical perspective whenever you need a little cheat-sheet. Some stuff changes over the years, but these basics never go out of style.

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529 Plan -  529 Plan: A college savings plan that allows your money to keep making money tax-free as long as you do one thing: use it to pay for college. You can use it for whichever college your little heart desires, but if you use it for something else, then taxes and penalties will come your way.