Tag: 529 Plan
Is a 529 Plan a Saving or Investment Vehicle?
529 Plans, sometimes referred to as “College Savings Plans”, are investment vehicles used for the purpose of saving money for a child’s education. Parents and grandparents, aunts and uncles can put money into a plan (or the same plan) for a college bound child with very few restrictions. Obviously, one cannot put more into a […]
Why Should I Have A 529 College Savings Plan?
The biggest expense any family will ever have, beside paying for a house, is paying for a college education for your children. Brace yourself because the average private college can cost $40,000 a year for tuition, books, room, and board. The cost for a state college education can run any where from $11,000 to $20,000 a year. […]
Prepaid College or 529 Savings Plan – Which is Best?
For the past 10 years I have been paying into a prepaid college plan. Every month I have been sending in $61.38. Saving for college for your children is a necessary expense I am glad to do. But I have thought if I have been doing it the best way. What are the options for saving for […]
Should You Move Your UGMA/UTMA Accounts to a 529 College Savings Plans
“The biggest reason is tax savings.” says John Wiggins of WhatIsA529Plan.com, “All the earnings from investments in a 529-plan account are tax exempt, while only a portion of the earnings in a UGMA or UTMA account are tax exempt.”Both UGMA and UTMA accounts, together generally referred to as UGMA accounts because they’re so similar, […]
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