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529s used to be the go-to investing tool for college savings, but times have changed. The options available for college planning have expanded beyond a 529 plan. Check out this informative article and contact me to learn about the better alternatives for college savings. #529plan #collegesavings #investingoptions #collegeplanning

Curious about how earnings grow in a 529 college savings plan? Saving For College breaks down how your investments in a 529 plan can grow tax-free and how the interest works over time. It's a must-read for Minnesota families looking to maximize their education savings and secure a brighter future for their children. Read more: https://lnkd.in/g3AmnDnW #MNSAVES #529Plan #CollegeSavings #FinancialPlanning #Investing

🎓 Happy 5/29 College Savings Day! 🎓 As we celebrate this special day dedicated to planning for our children’s education, I’m reminded of how crucial it is to be prepared for the financial journey ahead. With my youngest, Ava, graduating this weekend and heading off to Fairfield University, I’ve seen firsthand the importance of early and consistent saving. Here are some tips to help you get started on your college savings journey: 1. Start Early: The sooner you start saving, the more time your money has to grow. Even small, regular contributions can add up over time. 2. Explore 529 Plans: These tax-advantaged savings plans are specifically designed for education expenses. Contributions grow tax-free, and withdrawals for qualified education costs are also tax-free. 3. Set Realistic Goals: Determine how much you’ll need by considering the current and projected costs of college. Use online calculators to help set a realistic savings target. 4. Automate Your Savings: Set up automatic transfers to your college savings account to ensure you consistently contribute without thinking about it. 5. Involve Family: Encourage family members to contribute to your child’s college fund for birthdays and holidays. Every little bit helps! Being prepared can make all the difference in helping your child achieve their educational dreams. Start saving today and pave the way for their bright future. #529Day #CollegeSavingsDay #529Plan #Education #FutureInvestments #FairfieldUniversityBound

You've likely heard of 529 plans, but here is an overview of a few different tax-advantaged ways to save for college. Reach out to our team if you have any questions about the college savings process!

You've likely heard of 529 plans, but here is an overview of a few different tax-advantaged ways to save for college. Reach out to our team if you have any questions about the college savings process!

All in (tuition/room/board/etc.), some colleges costs 90k per year so it might be rare to have "leftover 529 college savings money". If you do though, this article is a good summary of your options with those dollars.

529 plans can be a great way to save for college, but they’re not the only way. When you’re investing for a major goal like education, it makes sense to be familiar with all of your options. Check out our latest blog post to learn more! #ArmstrongDixon #CertifiedFinancialPlanner #529 #529Plan #Education #CollegeSavings https://lnkd.in/eUAqXiaM

Worried your child’s college fund isn’t growing as fast as they are? Take control early. Equip yourself with savings strategies for your little one’s BIG future. Step into their educational journey with confidence! Get help with early savings here https://lnkd.in/eEQpv_fg #Educationsavings #futuresuccess #securethierfuture #financialplanning #waterstreetfinancial

529 plans can be powerful college savings tools, but you need to understand how your plan works before you can take full advantage of it. https://bit.ly/3VlZMoK #529plans #collegeloans #financialaid #educationplanning #blog #insights

Saving for your child’s college education can be tricky. Steal this 3-step process that I use with my clients -- Question 1: In which of these three buckets do you fall? --You want to pay for 100% of Billy’s education. --You want to pay for a portion of Billy’s education? --You want Billy to pay for his own education. There is no right or wrong here. Every family has different values and priorities. Question 2: If you’re going to play a part in funding Billy’s education, how much free cash flow do you have for this (while also funding your own retirement and other goals)? --"Let’s create a budget together so you’ll know where all your money is going." --Budget is completed. I ask, “Does this please you?” --We make budget adjustments, if needed, together. Prioritize what to do with excess cash flow. Question 3: What college savings vehicle makes the most sense for your family? Here are your top three choices: --College Savings 529 Plan --Prepaid --Family Trust Bonus: if Billy is still early in his highschool years, now is the best time to talk about your best strategies for FAFSA applications. Don't count out private universities. We can help you with this too.