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Ditch Your Car - If you live in a community where everything is within a reasonable distance, you need to ask yourself why you are driving a car, which when...

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529 Plan

Definition: A 529 Plan is an investment plan that allows you to make prepayments for your child's (or your own) higher education.  Think of it as an account that allows you to save for college (if that wasn't already obvious).

One big downside:  You are only allowed to contribute up to the total amount of the college education.  So you need to be extra careful that you don't overfund the account.  Check with a financial advisor before opening one of these accounts to figure out how much you should contribute.

TeenAnalyst Advice:
529 Plans are great because they allow you to start saving for college and putting your money to work for you.  They're also nice because they don't have any income restrictions on creating these.


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Definition of the Day Capitalization Weighted Index

Capitalization Weighted Index - The capitalization weighted index is a stock index where each stock affects the stock market's index in proportion to its current market value. Examples of markets using the capitalization weighted index include the Nasdaq Composite Index, the S & P 500, the Wilshire 5000 Equity Index,...

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