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Education Planning PDF Print

 

Whether you’re paying tuition costs now or saving for a future goal, it’s important to determine if your education strategy is compatible with achieving your retirement income and related financial objectives. Tax considerations and retirement income needs must be weighed and evaluated before choosing a specific strategy. It’s important to remember that while education expenses can be funded through borrowing, retirement expenses cannot.

 

Web version Hammock iStock 000026664373Large529 Education Savings Plans
529 Education Savings Plans can be a good choice for many families seeking to set aside funds for future college or other education expenses on a tax-deferred basis.
As independent advisors, we are under no pressure to recommend specific education savings programs or proprietary products of any type. Our only concern is which program best meets your needs.

We can help you establish these and other education savings plans and strategies:

  • 529 Education Savings Plan
  • Coverdell Education Savings Account
  • UGMA/ UTMA

 

Prior to investing in a 529 Plan investors should consider whether the investor's or designated beneficiary's home state offers any state tax or other benefits that are only available for investments in such state's qualified tuition program.  Withdrawals used for qualified expenses are federally tax free.  Tax treatment at the state level may vary.  Please consult with your tax advisor before investing.