Benefits of a 529 plan

A 529 plan gives consumers a tax-advantaged way to pay for education, and that’s a boon for parents and other family members who want to save for a child’s schooling. A 529 plan offers several other benefits, including the ability to invest with potentially high-return assetss such as stock funds, instead of being limited to low-return bank accounts.

Among other things, “these plans can be used as estate planning tools by grandparents to help their grandchildren save for college, or by a family to create a relatively flexible education fund that can span multiple children with proper planning,” says Bill Van Sant, CFP, senior vice president at Girard, a wealth management firm in the Philadelphia area.

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How to start investing in cryptocurrency: A guide for beginners

Cryptocurrencies have been enormously volatile since being introduced, but that volatility can create opportunities for profit if you’re looking to trade these digital assetss. Cryptos such as Bitcoin and Ethereum have risen a lot since their debut, but are down significantly from their highs along with other popular digital currencies. Experienced traders have been speculating on cryptocurrencies for years, but how can you get started if you’re new to the crypto mark

Here’s how to start investing in cryptocurrency and the significant risks you need to watch out for.

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What is cryptocurrency?

Cryptocurrency is a kind of digital currency that is intended to act as a medium of exchange. Cryptocurrency has become popular in the last decade, in particular, with Bitcoin becoming the most widely tracked alternative currency. Typically, cryptocurrency is electronic-only and does not have a physical form – that graphic at the top of the page is just an artist’s vision of digital currency.

Cryptocurrency appeals to many people because of its ability to be managed without a central bank and therefore concerns around secrecy and subterfuge. It appeals because of its ability to hold value and not be inflated away by central banks that want to print money. It’s also very difficult to counterfeit due to the blockchain ledger system that manages the currency.

Cryptocurrencies have gained popularity in the investment world due to the significant appreciation seen by some coins since they were first introduced. More recently, cryptocurrencies have seen significant declines as the Federal Reserve raises interest rates, impacting speculative investments particularly hard. Bitcoin and Ethereum, two of the most popular coins, fell by more than 70 percent from their all-time highs in 2022, but have recovered somewhat during 2023.

Here’s what cryptocurrency is, how it works and its significant risks

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