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...pocketbooks of the world's newly rich. From South Korea to India to Brazil, HSBC is expanding its branch network, launching new financial products and marketing its brand. In December HSBC acquired 10% of Vietnam's Techcombank; in November HSBC said it planned to launch the first independent investment bank in Saudi Arabia; and in late October it purchased 70% of an investment bank called Dar Es Salaam in, of all places, Iraq. Says Stephen Green, HSBC's global chief executive, who in November was named the bank's next chairman: "These are markets into which we should be prepared...
Saying that a 529 Savings Plan is the best way to invest for your kids' education is like saying there are good shows on TV. It may be true--if you hit the right channel at the right time...
...basic case is this: 529s let you invest money without having Uncle Sam reach in each year and tax your earnings. Thanks to the magic of compounding, a yearly investment of $3,000 that grows, say, 7% annually, to $38,632 after 10 years, could grow tax free to $44,351, according to Robert Matricardi at T. Rowe Price. (You also don't get taxed when you spend the money, though that little bonus will run out at the end of 2010 unless Congress extends...
Start at www.savingforcollege.com for the basics on what 529s are, and for information about other tax-advantaged ways to invest-such as the Coverdell Education Savings Account. Under "College Savings 101," click on "College Calculator" to see how much money you need to save (depending on where you think your kid will go to college) and how much you need to set aside in order to get to that goal. Click on "529 Plans," and you get information on all the different plans states offer (including prepaid tuition plans, which are also sometimes called "529s," even though they...
...critical analysis of all the 529 plans. From home page, click on "College Saving" under "Personal Finance" at the bottom of the page. You'll have to register, but it's free. Under "529 Data," you'll find detailed information about each of the plans, including which funds they invest in. You can also compare plans, plus read a lot of smart Morningstar commentary. Articles include "Are 529 Plans All They're Cracked Up to Be?" and "Extreme College Funding...