When you think about putting your kids through college, or helping their education in the way you deem most appropriate, those considerations should involve more than just projecting the expenses and then randomly trying to save that amount. The sooner you get started, the easier and less stressful it will be; and that process usually involves depositing a relatively small amount on a regular basis into a vehicle such as a tax-advantaged 529 savings plan. The earnings from a 529 savings plan are not subject to taxation, as long as they are used specifically for a college education.
The conditions of a 529 savings plan can get a bit complex, and that’s where the expertise of the GRAnderson Wealth Management Group becomes so valuable. For instance, a GRAnderson representative will explain the college-related expenses that a 529 savings plan can address, beyond just the tuition. Of course, there are many investment categories that you can choose for your 529 savings plan, and GRAnderson will assist in that area, too.