4 Reasons to Save in a 529 Plan
Want to know all the great reasons why you should choose a 529 plan to save for your kids’ college?
This quick list will give you the key benefits at a glance.
- Easy & Convenient
- Most plans can easily open an account in just 15 minutes. By setting up automatic contributions from your bank account, making regular contributions becomes a part of your wealth management plan.
- Savings Grow More Due to Tax Advantages
- Your earnings are free from federal income tax when used for qualified expenses. In the meantime, your contributions are reinvested automatically, so your account can grow more than a taxable account over the same period.
- Use at Schools Anywhere
- Plan assets can be used at any accredited university, college, or vocational school nationwide and abroad. Any institution with a student aid program qualifies.
- Use for More Than Just Tuition
- Plan assets can be used to pay for tuition, certain room and board costs, computers and related technology expenses, fees, books, supplies, and other equipment.
As the father of triplets+1, college planning is both financially and emotionally important to me. Email me at pfenner@tammacapital.com for four additional benefits to using a 529 for college planning.