Luv Saving Money – Page 71 – Life on a Budget

A Surprising Alternative to Education Funding

A good friend of mine is an insurance agent. She happened to mention one day about using whole life insurance to help pay for college. My ears perked up. Wait, what? I can use whole life insurance to help pay for college. But why would I used that instead of loans, 529 plan, or any of the other options out there? Turns out there’s a few reasons. I was eager to learn more and thought maybe my readers would like to know more too. So, I asked her to write up this article. I’m so glad she did.

Providing protection to your loved ones is primarily what whole life insurance is known for, but gone are the days when it’s used solely for the death benefit. One surprising way that life insurance can be used is
to pay for higher education costs, specifically as an alternative to using a 529 plan. If you’re unfamiliar with what a 529 plan is, it’s a tax-advantaged investment vehicle in the U.S. designed to encourage saving for future higher education expenses of a designated beneficiary. However, there are several disadvantages to a 529 plan. They vary from state to state and balances in a 529 plan may reduce your beneficiary’s ability to receive financial aid. Also, in the event that your beneficiary doesn’t want to
pursue higher education, the earnings may be subject to income tax plus a 10% penalty tax.

A whole life insurance policy can help you accomplish your college savings goals similar to a 529 plan and for some, an insurance policy may actually be a more suitable option because of the additional benefits, added flexibility, and guarantees not tied to the market. However, it’s best to use this option when the child is young, that way your policy can build up enough cash value to properly cover college expenses. You can also use what’s called an optional Paid-Up Additions (PUA) rider to significantly add
to the early build-up of cash values in your policy. While the two have similar contribution, accumulation, and distribution tax features, there are some differences between the two that might make whole life insurance a more suitable option for you:

Income tax-free college loans. You can use the accumulated cash value in your whole life policy to take out tax-free loans to help pay for college expenses without having to worry whether they’re qualified education expenses or not. If the time comes and your child decides not to pursue higher education, you could use this money for other things. For instance, you could use this money to help them purchase a vehicle, pay for living expenses if they choose to go out on their own, or pay for travel expenses so they could see the world.

Get guarantees without market volatility. A 529 plan likely has funds tied to market returns. While that can allow your college fund to grow over time, a down market could have the opposite effect. Imagine a downward spiraling market right before your child starts college. That would be a disaster. Alternatively, a whole life insurance policy provides you with guaranteed premiums along with a death benefit should the unthinkable happen and an accumulated cash value that won’t decrease based on the financial market performance.

Have options in case of disability. What if you became disabled while trying to build up savings for college education? No worries. With whole life, you have an optional waiver of premium rider to guarantee your college funding goals stay on track.

Benefit from savings that may not affect financial aid considerations. Unfortunately, a 529 plan is considered an asset by FAFSA. However, FAFSA financial aid guidelines currently don’t count your life insurance policy’s cash value as an asset, which means you could qualify for a higher
level of aid. (Note: Some colleges do view life insurance as an asset in determining financial aid).

Fund an education should the unthinkable happen. Life insurance provides an income tax-free benefit to your named beneficiary, which could in turn fund an education if they wished.

However, it doesn’t have to be one or the other. If you could afford it, a whole life policy could simply be used as a solution that supplements funds alongside your 529 plan contributions. If the grandparents are highly involved in your child’s life, you could even consider asking them if they’d like to start a 529 plan for your child (as currently 529 plans owned by grandparents or third parties generally do not affect
financial aid of beneficiaries under the current guidelines), while you start a whole life insurance policy. I encourage you to compare the two and talk to a financial professional to see if using whole life insurance is the right college savings solution for you.

If you’re ready to start with whole life insurance, get in touch with my friend Angie Bailey.

Facebook: https://www.facebook.com/AFGBurgAngela/

LinkedIn: https://www.linkedin.com/in/angela-angie-bailey-b1545025/

*Disclosure: This article is not intended to provide investment, insurance, or tax advice. Please consult
your own tax advisors regarding the comparative tax benefits of 529 plans, as well as the potential taxation of distributions from both 529 plans and whole life insurance policies

The Ravencrest Saga Book Tour & Giveaway

The Ghosts of Ravencrest The Ravencrest Saga Book 1 by Tamara Thorne & Alistair Cross Genre: Gothic, Paranormal Horror

Darkness Never Dies … Ravencrest Manor has always been part of the family. The ancestral home of the Mannings, Ravencrest’s walls have been witness to generations of unimaginable scandal, horror, and depravity. Imported stone by stone from England to northern California in the early 1800s, the manor now houses widower Eric Manning, his children, and his staff. Ravencrest stands alone, holding its memories and ghosts close to its dark heart, casting long, black shadows across its grand lawns, through the surrounding forests, and over the picturesque town of Devilswood, below. Dare to Cross the Threshold … Ravencrest Manor is the most beautiful thing new governess, Belinda Moorland, has ever seen, but as she learns more about its tangled past of romance and terror, she realizes that beauty has a dark side. Ravencrest is built on secrets, and its inhabitants seem to be keeping plenty of their own – from the handsome English butler, Grant Phister, to the power-mad administrator, Mrs. Heller, to Eric Manning himself, who watches her with dark, fathomless eyes. But Belinda soon realizes that the living who dwell in Ravencrest have nothing on the other inhabitants – the ones who walk the darkened halls by night … the ones who enter her dreams … the ones who are watching … and waiting … Welcome to Ravencrest … Who is the man digging in the garden beyond Belinda’s bedroom window? Who – or what – is watching her from the vents? From ghostly screams and the clutching bony fingers of death in the indoor pool, to the trio of gliding nuns in the east wing who come at Belinda with black blazing eyes, to the beckoning little girl in the red dress who died more than two centuries ago, Belinda is thrust into a world of waking nightmares where there is no distinction between the living and the dead, and there are no limits to the horrors that await. Witchcraft is afoot at Ravencrest and as unspeakable terrors begin to unfold, Belinda realizes that her beautiful new home is a keeper of tragedy, a collector of souls. And it wants to add her to its collection … **On Sale for only $2.99 July 6-13!!** Goodreads * Amazon

The Witches of Ravencrest The Ravencrest Saga Book 2

The Witches of Ravencrest Dark and Unnatural Powers In a remote part of California just above the coastal town of Devilswood, Ravencrest Manor, imported stone-by-stone from England more than two centuries ago, looms tall and terrifying, gathering its dark and unnatural powers, and drawing those it wants as its own. Murder Lurks in the Shadows Governess Belinda Moorland has settled into life at Ravencrest and, as summer gives way to autumn, romance is in the air. She and multi-millionaire Eric Manning are falling in love … but powerful forces will stop at nothing to keep them apart. And as the annual Harvest Ball is set to begin, evil abounds at Ravencrest. Murder lurks in the shadows, evil spirits freely roam the halls, a phantom baby cries, signaling a death in the mansion, and in the notoriously haunted east wing, three blood-soaked nuns, Sisters Faith, Hope, and Charity, tend to the demented needs of a maid gone mad. Vengeful Spirits Ravencrest has come to life. In the gardens below, granite statues dance by moonlight, and a scarecrow goes on a killing rampage, collecting a gruesome assortment of body parts from unwilling donors … But Belinda’s greatest danger is the vengeful spirit of Rebecca Dane. Once the mistress of Ravencrest, Rebecca Dane has a centuries-old ax to grind with the powerful witch, Cordelia Heller – and Belinda becomes her weapon of choice. **On Sale for only $1.99 July 13-19!!** Goodreads * Amazon

Exorcism The Ravencrest Saga Book 3

The Devil Comes to Ravencrest The Jazz Age In the 1920s, Henry Manning ruled Ravencrest with an iron fist. He held debauched parties that would have inspired Jay Gatsby himself. From the Manning fortune to a beautiful wife, the silent film star known as the White Violet, Henry had it all … including a loyal cult that worshipped the demon Forneus. Deal with the Devil Violet lost her life putting a stop to the demented perversions that Henry and his demonic familiar visited upon Ravencrest … but now that evil has returned. The Soulless Child In the night, an innocent maid is seduced by a demon lover. A child is born, but it is not of this earth. Father Antonio DeVargas is summoned as ghostly parties light up the old poolhouse and phantom screams rip open the night. Meanwhile, the White Violet wanders the halls of Ravencrest warning the inhabitants of death and disaster to come. And the current master of Ravencrest, Eric Manning, is decidedly not himself. Midnight. The witching hour. Watery echoes in an empty building. The grand Greek Pool at Ravencrest Manor babbles and gurgles as chlorine-scented water flows like cool blood in veins and arteries. The moon, full and high above the arched glass ceiling, shines its light into the cobalt pool, casting splintered rays across the water. A spring and thunk from the tall diving board, then somehow, water explodes into the air. The sound ebbs and flows with movement. But if no human ear is present to hear it, no eye to see it, can these things be real? Or are they merely tricks of light and sound, magic courtesy of Mother Nature? Soft golden lamps flicker to life. And then, music, faint but unmistakable, rises and echoes. Eddie Cantor. If You Knew Susie Like I Know Susie. Laughter. The sounds of a party, of voices, of champagne glasses clinking. Then something white and serpentine slithers and stirs beneath the water like glistening cold silk, there and gone again in an instant. **On Sale for only .99 cents July 20 – 26!!** Goodreads * Amazon

Tamara Thorne’s first novel was published in 1991, and since then she has written many more, including international bestsellers Haunted, Bad Things, Moonfall,Eternity and The Sorority . A lifelong lover of ghost stories, she is currently working on several collaborations with Alistair Cross as well as an upcoming solo novel. Learn more about her at:http://tamarathorne.com Alistair Cross grew up on horror novels and scary movies, and by the age of eight, began writing his own stories. First published in 2012, he has since co-authored The Cliffhouse Haunting and Mother with Tamara Thorne and is working on several other projects. His debut solo novel, The Crimson Corset, was an Amazon bestseller. The Black Wasp, book 3 in The Vampires of Crimson Cove series will be out later this year. Find out more about him at: http://alistaircross.com In collaboration, Thorne and Cross are currently writing several novels, including the next volume in the continuing gothic series, The Ravencrest Saga. Their first novel, The Cliffhouse Haunting, was an immediate bestseller. Together, they also host the horror-themed radio show Thorne & Cross: Haunted Nights LIVE! which has featured such guests as Anne Rice of The Vampire Chronicles, Charlaine Harris of the Southern Vampire Mysteries and basis of the HBO series True Blood, Jeff Lindsay, author of the Dexter novels, Jay Bonansinga of The Walking Dead series, Laurell K. Hamilton of the Anita Blake novels, Peter Atkins, screenwriter of Hellraiser 2, 3, and 4, worldwide bestseller V.C. Andrews, Kim Harrison of the Hollows series, and New York Times best sellers Preston & Child, Christopher Rice, and Christopher Moore. For book deals, updates, specials, exclusives, and upcoming guests on Thorne & Cross: Haunted Nights LIVE!, join our newsletter:http://eepurl.com/ckaBrr Author Links: Website * Facebook * Twitter * Podcast Tamara’s Links: Website * Facebook * Twitter * Bookbub * Amazon * Goodreads Alistair’s Links:Website * Facebook * Twitter * Bookbub * Amazon * Goodreads

Follow the tour HERE for special content and a giveaway! $20 Amazon giftcard – 1 winner , ebook set of the Ravencrest Saga – 2 winners a Rafflecopter giveaway

Annie’s Song Book Tour & Giveaway

Annie’s Song by Anita Dawes Genre: Disturbing Family Drama

Family or Freedom, which would you choose? Life in the backwoods of Virginia at the turn of the century was perfect, until Annie discovers a nasty family secret. Something her family have been doing for years. She knows she cannot live like this but her protests fall on deaf ears. Her struggle to change everything only makes her life so much worse. forcing her to try and escape… Annie’s song echoes through the mountains, her sorrow falls with every drop of rain. Pieces of her heart lie scattered throughout the forest. Will her footsteps lead her to the freedom she seeks? Goodreads * Amazon

Anita Dawes loves all things esoteric, magical and the otherworldly and would prefer to live in a fairy tale. In between these moments, she likes to visit old churches and ancient buildings. She has written six fiction novels in various genres, Bad Moon, Simple, Secrets, The Scarlet Ribbon; Let it Go and Not My Life. Presently working on a sequel to her popular supernatural romance, The Scarlet Ribbon. Anita has recently rediscovered her childhood love of poetry and often writes and posts them online. Owned by an egocentric black and white cat called Merlin, named after her favourite hero, Anita dislikes computers and prefers to writes longhand, sharing a website http://jenanita01.com with Jaye Marie, who transcribes and edits her work… Website * Facebook * Twitter * Instagram * Bookbub * Amazon * Goodreads

Follow the tour HERE for special content and a giveaway! $20 Amazon a Rafflecopter giveaway

Beware of COVID-19 Scams: Utility Scammers

With COVID-19 comes a lot of new problems. Some we adjust to, some are temporary. I’ll never understand how scammers can do what they do to innocent people. Which is why I wanted to pass on this information I received from The National Consumer League (NCL).

Washington, DC–The National Consumers League (NCL) has issued a warning today for consumers about a reported increase in scams by con artists posing as utility company representatives who are threatening to shut off subscribers’ power service if they don’t make an immediate payment.

The anatomy of the scam is highly consistent: a consumer receives a call from someone claiming to be with the electric utility company. The caller warns the consumer that their power is about to be shut off over an unpaid bill. The only way to avoid this is to pay up immediately, typically via wire transfer, gift card, or some other difficult-to-stop payment method. So what can we, as consumers do?

Such a call can be very scary—particularly for those who may need electricity to power medical devices or run their small business. Unfortunately, due to the COVID-19 pandemic, many consumers are having trouble keeping up with their bills, which may make them even more vulnerable to this scam. And even for consumers who are confident they’ve paid their bill, the impending threat of a shut-off at the height of summer heat can cause a panic.

To avoid becoming a victim, consumers should:

Not panic. According to the National Association of Regulatory Utility Commissioners, electric utilities in all 50 states have placed moratoriums on disconnections during the COVID-19 crisis, either voluntarily or in response to government orders. If someone contacts you claiming that they’re about to shut-off your electricity, it’s a scam.
Contact the power company. A utility will never initiate a disconnection without contacting you via the mail first. If you received a call from someone claiming they’re about to turn off your power, hang up and contact your electric company. Their toll-free phone number and website address is typically listed on your electric bill.
Beware of unusual payment methods. Anyone who asks you to pay an overdue electric or other utility bill via wire transfer, gift card, bank-to-bank transfer, bitcoin, or any other unusual payment method is almost certainly trying to scam you.
Not give out personal information. Utility imposters may offer to connect their victims to federal assistance programs or payment plans to help pay their overdue bills. They just need to “verify” the victim’s information. In reality, these scammers are trying to gather the information they need to steal your identity. If you suspect something is amiss, hang up and call your utility company directly.

NCL asks consumers to share their stories by filing a complaint at Fraud.org via its secure online complaint form. Complaints are shared with NCL’s network of nearly 200 law enforcement and consumer protection agency partners who can and do put fraudsters behind bars.

Scammers like these are everywhere. Knowledge is power. Please share this information with friends and family.

About the National Consumers League

The National Consumers League, founded in 1899, is America’s pioneering consumer organization. Our mission is to protect and promote social and economic justice for consumers and workers in the United States and abroad. For more information, visit www.nclnet.org.

Slumberland Book Tour & Giveaway

Slumberland By Derra Nicole Sabo Genre: Biography

How do you dream? Are your dreams in color or black n’ white? Do they feel surreal or all too real? Well, I’d like to introduce you to my little slice of bittersweet. These subconscious woods hold every fear and my anxieties masked are as wolves. Nightmares that play on a loop for weeks, even months at a time. Symptoms of waking in cold sweats and shaking. The only moments of peace are found in the sporadically studded dreams that happen every now and again. These woods house every past demon as well as certain past versions of who I once was. This place is worse than death, yet it inspires. So… …Before my alarm clock goes off, before I take the last train out of here, I take one last glance back, one last glance at all of the Polaroids pinned to every tree branch, polaroids of every dream and nightmare that have stolen my nights since ’95… These dreams…these woods…this place…it’s my upside down… This is my Slumberland… Reviews: “I enjoyed ‘Slumberland.’ It is a poetic, dark, abstract look into Derra Nicole Sabo’s dreams. I was reminded of many odd and repetitious dreams. I really liked Sabo detailing how the unfamiliar and the familiar can offer both comfort and terror to the dreamer. I’ve always known the fact, but had never thought about it in those terms before…” “I enjoyed weaving through every retelling of the author’s remembrance of her dreams and nightmares. How she explains their importance through reflection of them is an eye- opener too…”゚゚ “there was something about Slumberland that resonated with me. It is, in essence, a collection of short dream stories that are weaved together in an inexplicable way. The author goes kind of dark, but her phrasing is beautiful. It is abstract and poetic…” (the little widgets after the reviews are supposed to be butterflies…if you can get them to be them? lol) Add to Goodreads Amazon * HigherGroundBooks&Media

My name is Derra Sabo…I am California born and raised. I spend my days writing, sipping on coffee and listening to music. When I’m not busy typing away, I love spending time with my family and friends. Days spent at the beach ended by burgers at In-N-Out. Growing up I wanted to become a fashion designer/ drummer, but somewhere along the way writing grabbed ahold of me and I’ve never looked back. Over the years writing has aided in healing from my past. Being born and living with a rare disorder led to being bullied throughout life as well as surgeries growing up. Writing and music are my sanity. Website * Twitter * Instagram * Amazon * Goodreads

$20 Starbucks Follow the tour HERE for special content and a giveaway! a Rafflecopter giveaway