May 29 is "Save for Education Day"
Kids grow up fast. Before you know it, your loved one will be preparing for college. Have you thought about how you will help them get there?
Saving and paying for education is a top financial goal for many American families. Preparation now can set your loved one up for a bright future down the road.
Edward Jones recognizes the importance of saving for education and has designated May 29 (5/29) as “Save for Education Day.”
A 529 plan is one of many options your family can use to help save and pay for college expenses. Features include:
• Tax Advantages - Withdrawals are federally tax free when used for qualified higher-education expenses, such as tuition, room and board, books and more.
• Flexibility - Withdrawals can be used for qualified expenses at any eligible college or university in any state and even some schools abroad.
• Control - The account owner, not the beneficiary, retains control over the account. By retaining this control, you can ensure that the proceeds are used as intended.
Why not let 529 “Save for Education” Day give you the reminder you need to start saving? Remember, anyone can contribute to a 529 account, including grandparents, parents, other relatives - even family friends.
Call today to learn how 5-2-9 can add up to be an investment to help you achieve your education savings goal.
Withdrawals used for expenses other than qualified education expenditures may be subject to federal and state taxes, plus a 10% penalty on the earnings.
Contributions may be eligible for a state tax deduction or credit in certain states for residents who participate in their own state’s plan. 529 college savings plans may reduce a beneficiary’s ability to qualify for financial aid. Please consult with your tax advisor regarding the tax implications of 529 college savings plans.