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A 529 savings plan is a special investment that is specifically designed to help you pay for your child's education. It is important to note that there are two types of 529 plans available:
Pre-paid Plans- This is a 529 plan run by a specific college, and the money invested in such a plan is intended to be used at that university.
College Savings Plans- This is a state run 529 plan. The savings in a state run 529 savings plan can be used at any eligible university in the country.
What else can I help you with?
How can I invest my money?
The best way to prepare for his education is to open a 529 savings plan. Research before you invest at http://www.savingforcollege.com/intro_to_529s/what-is-a-529-plan.php
What is the best way to invest in a 529 savings plan?
Invest with a financial institution rather than a school, since it provides the most flexibility.
Is a 529 plan a good thing to invest in if you need help paying for college?
It sure is. Money invested in a 529 plan is tax-sheltered, so you can spend more on school and less on taxes.
What are the tax advantages of a 529 savings plan, if any?
The 529 plan is a college savings plan, and there are several tax benefits that may apply. The money you put into the plan is invested, and as it grows this increase is not taxed. Certain states might let you deduct some or all of what you invest, but you can't deduct the amount you invest on your federal return.
A 529 plan apex?
answer: provides savings for a future college costs.
Can I open a 529 college savings plan for my nephew?
Yes, you can open a 529 college savings plan for your nephew to help save for his future education expenses.
What is a 529 Plan and what are the benefits of having one?
A 529 plan is a savings plan for future college expenses. It is usually open for children by parents and grandparents and maintained until they need it for school expenses.
Who qualifies for a 529 savings plan?
A 529 savings plans can be used to meet the costs of colleges nationwide. A 529 is purchased by parents to save for future college costs.
Can 529 college savings plans be used on out of state schools?
No. Since the "529" refers to a section of IRS code, it is a national program. As long as the institution you want to attend is a qualified university or college it doesn't matter which state you attend in or save in.
Could you explain how a 529 savings plan works?
A 529 Plan is an education savings plan operated by a state or educational institution designed to help families set aside funds for future college costs.
What is the best way to start saving for my nephew's future education with a 529 plan?
The best way to start saving for your nephew's future education with a 529 plan is to open an account, contribute regularly, and choose investment options that align with your goals.
Do I need a 529 college savings plan for my son?
Depends. Using the 529 college savings plan is a great way to save money for the specific use of college. However, you may find a higher yield if you invest in CD or bonds.
