The 520 College Savings plan is one of the smartest gifts for your child or children. All parents strive to provide the best for their children and would move mountains and part the sea if it meant a better life for them, however that’s not always a reality. You still can give your child a gift that will last a lifetime and provide an enriching, fulfilling and lasting gift- a college education. This state-sponsored investment program helps you save for your child’s college tuition all the while offering significant tax advantages.
How a 529 College Savings Plan Works
With a 529 savings plan you invest money in the same manner as you would in stocks and bonds to produce a higher return. The main difference with a 529 savings plan compared to regular investment accounts is the money invested will grow tax-free and all withdrawals are exempt from federal income taxes as long as they will be used for qualified higher-educations expenses.
The Right Time to Start a 529 College Savings Plan
Starting a college savings fund when you are expecting or already a parent of a teenager who’s preparing to send them off to college a 529 savings plan will give you the financial edge when the time comes. Because the principal will be growing it will result in larger returns due to the compounding funds.
Setting Up a 529 College Savings Plan
Contact Estling Naples Insurance today to choose the right 529 College Savings Plan that will give you the most reward and fit into your lifestyle best. Planning for college and how to pay for it takes time, consideration and follow-through and we are dedicated to help you with these aspects of the process. Our team is here to help and answer questions and understand everything so you can make the best choice to give your child a jump start on their education.
Please Call Us Today: 239-594-9567
Or stop by our Naples Office: 12820 Tamiami Trail North Suite 3