Are you trying to figure out the best way to save for your education, or your children’s education? A 529 education savings plan may be a great option for you.
- In addition to being useful for covering the costs of college & grad school, you can use a 529 education savings plan to pay for non-traditional forms of education including vocational schools (think culinary school) and even some international schools.
- Portions of the funds you save and invest in a 529 plan can be used to help cover elementary and secondary education costs
- You can contribute up to $10,000 from a 529 plan toward student loans
This plan allows you to set aside, invest, and grow money to help cover educational expenses. This plan can also be used to help out other students in your life, including nieces, nephews and grandchildren.
In this episode I get into the details of these plans and how they work. As always, come talk money with me!