Plan for Retirement

What is a 529 plan, and why should I open one?

You don’t need a Ph.D. to know the costs of education have risen dramatically in recent decades. Many parents worry about how they will pay for their kids’ schooling from they day they are born.

The 529 investment plan was designed specifically to help parents plan for school costs and reward saving with benefits that help contributions grow more than in traditional investment accounts. But 529 plans come with their own special rules that may take expert help to unravel.

As a part of the federal tax code, you also need to pay attention to rule changes from year to year. And remember, a 529 is just one way to pass on wealth and fund education.  It seems complex, but with guidance, a 529 can offer big help for families facing a big school bill.