College Planning Using a 529 Plan

Have you been thinking of how to start saving for your child’s or grandchild’s college education? How about setting up a 529 Plan?A 529 Plan allows you to invest in your child’s or grandchild’s college education before they even get to that stage. This type of investment has many benefits, including being tax-free during the growth period.In this episode of the Secure Your Retirement podcast, we explain in detail what a 529 Plan entails and the benefits it offers. Listen in to learn how to open a 529 account and the investment options available for you. In this episode, find out: Understanding the 529 Plan and the tax-free benefits it offers.This plan won’t affect your child’s ability to get financial aid because you’re the one in control of the money and not your child. The hands-on and hands-off ways to control the investment options for a 529 plan. The options available for you if you’re worried you won’t use all the money in a 529.Understanding that you can open and use a 529 plan in any state across the country. The current situation on whether the plan is likely to go away any time soon.The 529 investment plan doesn’t lock you in and you can make changes.How and where you can open a 529 account. Tweetable Quotes:“It’s the parent or the grandparent that’s in control of the money.”- Radon Stancil“You can set the 529 plan up anywhere; it’s not based on residency.”- Murs Tariq“They want this plan to be as easily accessible because saving for education is very important.”- Murs TariqResources:If you are in or nearing retirement and you want to gain clarity on what questions you should be asking, learn what the biggest retirement myths are, and identify what you can do to achieve peace of mind for your retirement, get started today by requesting our complimentary video course, Four Steps to Secure Your Retirement!To access the course, simply visit POMWealth.net/podcast.To receive our free book, Get Off the Retirement Rollercoaster, leave a 5-star rating review on Apple Podcasts and send a screenshot to [email protected].