Tuesday, August 30, 2005

Planning for the future.

I have always wanted to do an MBA and from a top univ. I always belived that any job I got would fund that. Now the thing is once u have a little money u get used to certain crature comforts that are not available to a poor student. As a student u don't have the security that u will have a decent pay cheque in the bank at the end of the month. Almost as if to confirm my own doubts, A recent article in Forbes (magazine), highlights how more and more working professionals preffer a part time MBA to a full time one. It then goes on to make a compelling argument about the cost + lost earnings of a full time being way more than a partime(factoring in salary increases).
To that end I realised , maybe its time to start saving rite now for education but under a different head. After one google search I stumbled upon the 529 plans(vary from state to state) . generally benefits include tax deductions to tax credits. U get levied a 10% penalty if ur withdrawal is for non-educational purposes. But its definetly worth a dekko.

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