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Description: A little known secret in the Stimulus Package is that the 529 College Savings Plans have been made a little better with some law changes.
There are two main changes to be aware of, one benefiting those whose children are not yet in college and the other for those whose children are already in college.
1. [...]
Description: Selecting the right 529 fund investments is done through a combination of not paying fees-upon-fees and adjusting your investment choices to be appropriate for what’s going on in the markets and when the money is needed.
After knowing if there is a tax benefit, you want to know how good the investment options are. Each [...]
Description: Some states offer a matching program as long as you’re a resident. Sound too good to be true? For most, it is.
Many states offer a Program Match where you are enticed to contribute and receive ‘free money’ in the form of a matched contribution. The reality is that the match is capped at a [...]
Description: One of the perks of 529 plan from any state is that you retain control of the money as opposed to other options that require you to give up the money permanently to the person you designate.
One of the perks of a 529 plan is that you keep control of the account because it’s [...]
Description: Contribution limits are typically quite high but there is a sub-segment of rules to be aware of, notably the minimum contribution amounts.
1. Ceiling Limits: The only thing to understand here is what the maximum allowed contribution is into the state’s plan. If you plan on putting away $400,000 over the course of 17 years [...]
