529 college plans are state sponsored education savings accounts that permits non tax deferred contributions to be made for college education tuition expenses.
Each state will set their own limit for contributions into a 529 plan. The earnings in the investment plan account grow and are distributed tax free when they are used to pay for college or other qualified higher education instutions.
Saving for college can be very difficult for many people. With the cost of housing, taxes and other expenses growing with most people, having the 529 savings plan option can give a family a certain measure of comfort knowing they are saving for college. The amount of money that grows in the 529 will vary with the performance of the investments in the account.
Our financial advisors, planners and broker dealers can provide more information and open a savings plan for you or your child.
529 Savings Accounts
Tuesday, November 15, 2011
Subscribe to:
Posts (Atom)