A 401(k) debit card is deceivingly like the debit cards you're familiar with, except the money is drawn from your retirement savings and must be paid back to yourself with interest — essentially, it is a loan against your 401(k). You're responsible for making punctual payments, and if you miss one, you risk having to pay early withdrawal penalties.
While you'd be paying interest now, you'd really be borrowing from your future self. When you remove funds from your retirement savings it reduces the potential for compounding interest, therefore hurting your overall long-term savings goal and strategy. Do yourself a favor and pretend that 401(k) debit cards don't exist; you'll be grateful when you need to rely on those funds for living.
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Most of you are well-acquainted with student loans — after all, 70 percent of you are still paying them off. But look on the bright side: The cost of college has been going up every year, and students entering this Fall will pay up to $1,400 more this year for tuition than last year. Think you're up on the cost of higher education? Take the quiz to find out! All of the answers pertain to the 2007-08 school year.
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Take the quiz
Comparison shopping is the name of the game when it comes to buying plane tickets, but I must say I'm delighted when JetBlue or Virgin America turn up on top of my search results. And if the flight is on the long side or a red-eye, I may be willing to pay a little extra for tickets on my favorite carriers. Do you prefer any particular airline to the others?
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As the Olympic torch arrives in Beijing to tour the city before Friday's opening ceremony, the city is all decked out with images everywhere of the Games' sponsors. For global brands, the Olympics are an ideal venue because of the worldwide audience, though this year they may receive more enthusiasm from local consumers in China
than viewers abroad.
Wondering what company is in charge of the clocks used to decide who takes home the silver or gold? Curious to see what the 2008 Olympic medals look like? Like any big production, it takes money to make it all happen. Click "start slideshow" to see the elaborate ads and hardly subtle Olympic supporters.
Rupert Sanderson
Littlewoods
Stuart Weitzman