It seems that our children grow faster and faster every year. Before you know it, they will be off to college. The sad fact is that college tuition rates continue to go up every year. Let the Advisors of Maverick Wealth Management come alongside and show you how you can have a financial plan in place that seeks to give your children the college education you desire them to have.
- How much should I save?
- How much should I contribute each year?
- How much will a college education cost when my child turns 18?
- What if my child gets a scholarship?
- What if my child decides to tour Europe instead of going to college?
- Can I cash out the account and take a dream vacation?
Yes, we can help answers these questions and more!
Will a 529 Plan help me save for my child’s future education?
Well, to start, this account is in control of the donor and the funds grow tax-free if used for higher education. Any person can deposit and contribute into this account for your child. Also, no worries if your son or daughter does not go to college. The funds can be rolled to another family member, even you if you want to go back to school, or you can just close the account and pay taxes on any gains.