This is Part 3 of the Investing for Your Children Series. Read parts 1 and 2!
Part 1: Custodial Accounts (UTMA/UGMA)
Part 2: IRAs
Contents
The cost of obtaining a college degree has risen by more than 65% since 2001. Without a plan and consistent action, the hopes of our children graduating college with no debt is nothing more than a thought. A 529 plan could be the solution to ensuring your child can attend college without the burden of loans for the rest of their lives. Here is everything you need to know about 529 plans.
What are 529 Plans?
529 plans are state-operated investment plans designed to give families a way to save money for college with substantial tax benefits. With the passage of the Tax Cuts and Jobs Act of 2017, these plans can be used for K-12 private school expenses as well.