Archives for October 2005

Taking Advantage of the Lifetime Learning Credit

Posted on October 4, 2005 // 8 Comments

I forgot to mention that, although tuition is going to be a big expense this year, I will be eligible for the Lifetime Learning Credit. In essence, it is a 20% rebate back on your college-level expenses up to $10,000, with some restrictions. Since it is a tax credit and not an deduction, it’s up to $2,000 cash in your pocket.

You must pay these expenses yourself, not from a scholarship or a 529 plan. Tuition counts, and mandatory fees count, but for me books do not, since they are technically not “required for enrollment”. Very disapointing, sometimes the books cost as much as the class!
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Filed Under: Taxes //

October 2005 Financial Status / Net Worth Update

Posted on October 3, 2005 // 12 Comments


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Filed Under: Goals //

Emigrant Direct Referral Bonus Update

Posted on October 2, 2005 // 3 Comments

(Update: This is old news, I now have plenty of referrals. Please follow the new directions for the Emigrant Direct Opening Bonus Promotion.)

First, I’d like to say thanks everyone for reading and making my $10 Emigrant Direct Opening Bonus Referral program successful so far. Ok, now here are some things I need participants to read:

1. Not everyone is following the rules exactly. I need two e-mails from everyone – one when you open the account online, and another when you get the paper letter and get full online access to your account. This is to ensure an accurate count, and to make sure we don’t go over 100 without knowing and leave people out in the cold. If this happens, the people who did not follow the rules will be the ones left out instead! Otherwise, the Honor System approach seems to be doing well.
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Filed Under: Banking //

Health Insurance – School Insurance an Affordable Option

Posted on October 1, 2005 // 4 Comments

We just entered the Open Enrollment period for my wife’s work, so we have to choose what health insurance options we want for 2006. This is actually pretty good timing since I am now also eligible for health insurance for as a student at my University.

Since I left my job in July, I’ve been added onto my wife’s health plan for an additional $200 pre-tax a month, a pretty good deal. Next year, it’s only going to be $160/month. I don’t have any current health conditions, but I feel it’s very important to stay covered at all times. The insurance plan is a pretty decent PPO, especially if you stay in-network (I don’t really have any preference towards any specific doctor). In-network, the plan has a $200 annual deductible per person, and an annual out-of-pocket maximum (including the deductible) of $1,200 per person. There is a $2,000,000 lifetime maximum benefit.
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Filed Under: Insurance //
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