This Financial Harvest whitepaper discusses benefits of a 529 plan, comparison to Florida Prepaid Plan, & impact of SECURE Act 2.0.
Education is often one of the most impactful investments a parent, stepparent, grandparent, or other family member makes in a child’s future. Strategic planning to cover the cost of educational experiences means more choices and potentially less stress for everyone involved.
A 529 tax-advantaged savings plan is designed to help families save for education expenses. These plans are named after Section 529 of the Internal Revenue Code.
Money assigned to a 529 plan can be used for tuition and other qualified educational expenses, including, but not limited to, fees, books, and room and board.
The use of a 529 plan, where contributions grow tax-free, is not restricted to traditional colleges or universities. A 529 plan can, in many situations, be applied to vocational training, elementary and secondary education tuition, foreign education, and other approved avenues of learning.
“You won’t owe any taxes on the earnings in a 529 Plan as long as the funds are used for qualified education expenses.”
Interested in learning more about how you can help stabilize a child’s educational future as a parent or other family member?
529 Plan Whitepaper
David Witter, CFP®, Founder and CEO, and Kellen William, CFP® Principal and Wealth Advisor of Financial Harvest Wealth Advisors, have authored an easy-to-follow whitepaper explaining how 529 plans can benefit your family and what you need to do to get started today.
And there’s even more good news. The SECURE 2.0 Act of 2022 made 529 plans even more attractive, with the option to roll over funds from a 529 plan into a Roth IRA for the beneficiary.
Download this informative whitepaper now: Education Funding and SECURE Act 2.0: A Comprehensive Guide to 529 Planning.
