Thousands of revelers cheered in the New Year with the annual Times Square ball drop in New York City. My wife and I saved up $73,000 in 529 college savings plans for our kids — then their grandma generously paid for everything. Can we still use the 529 plans without penalty?

This year, rainy weather could put a damper on New Year's Eve celebrations as multiple storms are expected, with at least one storm taking aim at New York City. A map from AccuWeather shows that snow is expected in northern New York, Vermont and part of New Hampshire, with rain forecast from southern New York through North Carolina on December 31.