MyMoney Resources - MyMoney Five

When you’re shopping for a new auto loan, it’s important to know the right questions to ask. Preparing can help you save money, reduce stress, and get the auto loan that’s right for you.

A 529 plan is a tax-advantaged savings plan designed to encourage saving for future education costs. 529 plans, legally known as “qualified tuition plans,” are sponsored by states, state agencies, or educational institutions and are authorized by Section 529 of the Internal Revenue Code. There are two types of 529 plans: prepaid tuition plans and education savings plans. All fifty states and the District of Columbia sponsor at least one type of 529 plan. In addition, a group of private colleges and universities sponsor a prepaid tuition plan.

Find help for your situation. Get mortgage help if you’re struggling. Take action if you’re in forbearance. Get help if you’re a renter.

Internal Revenue website with information on Economic Impact Payments and Coronavirus tax relief updates.

An Achieving a Better Life Experience (ABLE) account is a type of tax-advantaged savings account that an eligible individual can use to pay for qualified disability expenses. The eligible individual is the owner and designated beneficiary of the ABLE account. An eligible individual may establish an ABLE account provided that the individual is blind or disabled by a condition that began before the individual’s 26th birthday.

These synopses are intended only as aids to the reader in identifying the subject matter covered. They may not be relied upon as authoritative interpretations.

Generally, the ABLE Act permits a state to establish and maintain a new type of tax-advantaged savings program (under Section 529A of the Internal Revenue Code). Contributions may be made to a 529A account established for a designated beneficiary to pay for qualified disability expenses.

The SEC’s Office of Investor Education and Advocacy is issuing this Investor Bulletin to educate investors about ABLE accounts.

An Achieving a Better Life Experience (ABLE) account provides a tax-advantaged method to save for disability-related expenses. Contributions are not tax deductible for federal income tax purposes, but your investments can grow tax free and remain so when withdrawn and used for disability-related expenses. Similar to 529 college-savings plans, ABLE programs are administered by the states. Many states have established ABLE programs and you may have the option to choose your own state’s plan.

A one-page infographic with steps you can take to prepare you and your family financially for a disaster

Be prepared before a disaster strikes your community or small business. As part of a series of focus groups, the Kansas City Fed has developed an array of materials to help you be prepared before and after a disaster. Toolkit includes financial inventory forms, checklists, resources and Spanish-language resources.