| Issue Date: December 2, 2007
Roth IRAs and planning for college costs
Q: I have been paying into a state prepaid tuition program, but now my daughter plans to go out of state.Is it too late to start saving into a Roth IRA for her? Can I use a Roth IRA to pay back student loans?
Tony Rizzo, Las Vegas
A: Yes, it's too late for you to save into a Roth IRA for college expenses. It's better to use any extra cash to pay tuition bills directly, says Kalman Chany, author of "Paying for College Without Going Broke." Then, shop for student and parent loans with the lowest interest rates. One place to begin is finaid.org, which has a good tutorial on college financing.
But a Roth IRA sometimes makes sense for parents who have more time to contribute. The IRS lets you withdraw contributions without penalty to cover qualified expenses, such as tuition, fees, books, supplies, room and board. Paying back a college loan, however, doesn't count.
Still, if you dip into your Roth IRA earnings, you'll owe taxes, so many experts suggest withdrawing only your contribution amount for college, leaving the earnings to grow until age 59 1/2, when you can withdraw them tax-free.
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You can relax and stay fit through the holidays
One key to maintaining your fitness during the holiday season is to relax a little. "Be realistic," says celebrity fitness trainer Gunnar Peterson. "Don't judge yourself with your 'bikini goggles' on -- it's hard to peak physically during the holidays." He suggests that your body "may reward you for easing up on caloric restrictions and intense workouts."
But don't confuse backing off with backsliding. "You owe it to yourself to keep working out during the stressful holiday season," Peterson says.
Nothing you can eat with your fingers should pass your lips.
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MAKE TIME to work out in the morning, Peterson says; fewer people awake means fewer distractions. And be sure to schedule workouts like appointments so they take priority.
KEEP WORKOUTS SIMPLE. "Do less of what you've been doing, not something entirely new," Peterson says. "Stack exercises into a circuit to save time, or bump up intensity and cut back on minutes."
WATCH WHAT YOU EAT. Have some protein, like a lean beef patty, before you go out, Peterson says. "Also, no hors d'oeuvres you can eat with your fingers should pass your lips -- this can save you 800 to 3,800 calories a night."
Contact Jorge Cruise, author of the coming fitness book "The 12-Second Sequence," at12second.com.
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Treat yourself to a new electronic gadget
With all the giving to others this season, it might be time to give something to yourself. There's nothing like a little pick-me-up of the electronic variety. Here are a few gadgets to consider:
-- Apple's iPod Nano. The newest incarnation of this megahit, pictured below, has a 2-inch screen that lets you watch movies and play video games. It's super-small, so it's easy to carry. It comes in five vibrant colors and starts at $149.
--Sony's Kitchen LCD TV. All those hours you're spending in the kitchen during the holidays will be less boring with this TV (slash CD player, slash radio) that mounts under a kitchen cabinet. The 7-inch screen is large enough to watch "A Charlie Brown Christmas" as you cut veggies. Available for $299.95, this TV includes a remote control, so you can flip while you saute.
-- Palm Treo 680 smartphone. Most "smartphones" let you send e-mails, surf the Web and make calls, but this one -- with its orange, red, silver or white color options -- adds fun to being smart. It's $149.99 with an AT&T plan (after the $150 mail-in rebate) and $449.99 without a plan.
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Multivitamins fight depression in elderly
A multivitamin/mineral pill has the power to relieve depression in elderly patients, according to a new international study.
Acutely ill, older medical patients on a normal hospital diet took either a supplement with 100% of their vitamin/mineral daily needs or a placebo once daily for six weeks. Symptoms of depression -- like sleep problems, loss of appetite, fatigue, feelings of worthlessness -- improved in the multivitamin-takers after six weeks, regardless of their initial level of depression.
The findings are consistent with studies linking folate and vitamin B12 deficiency with depression.
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