May 29th is National 529 Day – reminding families and friends that it has never been easier to help save for a child’s future. By contributing to a 529 savings plan, you help prepare a child for whatever path they choose. Earnings grow tax-free on the federal level, and in most states, if savings are withdrawn to pay for qualified tuition and other expenses.

Below are a few articles to help you learn more about 529s and other college saving options.

Learn About Different Education Savings Vehicles
The cost of a college education increases every year. Realizing that the pursuit of higher education will come at a substantial cost, you may be searching for the most efficient way to save for that moment when your children leave home and the bills roll in. But there are many options to consider. Here, we’ll explore 529 plans and compare their effectiveness with other means of saving for college. Read more >

Grandparents Considering 529 Gifting?
529 accounts are a tax-friendly way to save for education expenses. Growth is tax free if withdrawn to cover qualified education expenses for the account’s beneficiary. Contribution limits for these accounts can be tricky, though; it can help to know that 529s mostly follow gifting rules. Read more >

529 Plans: What Counts as Qualified and Non-Qualified Expenses?
You’ve put in the hard work of saving for college, and now it’s time to start using those 529 plan assets to help with a family member’s education-related costs. But before you begin withdrawing those funds, it’s important to understand the difference between qualified and nonqualified expenses. Read more >

I hope you find these articles informative and helpful as you think about starting or adding to a college savings account for your child, grandchild or other family member. Feel free to contact us or any of our financial advisors with any questions. We’re here to help!