Invest for College. Tuition, fees, and room and board expenses. $43, Public $19,548
|
|
- Kerry Hancock
- 7 years ago
- Views:
Transcription
1 Invest for College BUILDING A SAVINGS PLAN WHAT THIS MEANS TO YOU Putting together a plan that incorporates a tax-advantaged college savings program is an important first step in meeting your college funding goals and ensuring you don t fall short of meeting other goals. Starting early also gives your savings a chance to grow and helps you take advantage of compounding so that you can maximize the amount you save over the long term. An experienced Advisor can help you break down multiple goals into manageable pieces and choose the right investment vehicle, such as a 529 college savings plan. Starting to save and invest for college early in a child s life is important, so that college savings have time to grow and match rapidly rising college costs. With college costs increasing 5% on average each year, the price of a college degree will more than double by 2034, if current trends continue. 1 To ensure you meet your college funding goals as well as other long-term goals developing a plan that incorporates a tax-advantaged college savings program such as a 529 plan is a critical first step. 2 RISING COLLEGE COSTS Tuition, fees, and room and board expenses Tuition & Fees Room & Board Private $43, Public $19,548 Private $105, Public $47,045 $0 $20,000 $40,000 $60,000 $80,000 $100,000 Source: Asset Management, College Planning Essentials, Asset Management, College Planning Essentials, Tax-aware strategies seek to reduce capital gains. There is no guarantee that they will eliminate them. INVESTMENT PRODUCTS ARE: NOT FDIC INSURED NOT A DEPOSIT OR OTHER OBLIGATION OF, OR GUARANTEED BY, JPMORGAN CHASE BANK, N.A. OR ANY OF ITS AFFILIATES SUBJECT TO INVESTMENT RISKS, INCLUDING POSSIBLE LOSS OF THE PRINCIPAL AMOUNT INVESTED 1
2 Regular investments of even small amounts can add up, and over time the return on your investment may begin to earn a return as well. REASONS TO PLAN AHEAD Some may find it daunting to juggle multiple goals such as investing for retirement or paying off a mortgage, so they put off saving for college until the time comes. However, paying for college is a major financial undertaking, and taking a pay as you go approach can be risky: Parents who suspend their retirement savings in order to meet tuition bills may create a shortfall that they can t make up later. There s also the chance that unexpected problems may arise in the future, making it necessary for children to take on debt. On average, the Class of 2015 graduated with $35,051 in student loan debt 3 a significant burden for a young person. According to, 529 Program Director at Asset Management, planning ahead is simply a better idea: As a rule of thumb, I think it s always better to invest and earn interest rather than to borrow and have to pay interest. Planning ahead also helps to put the power of time and compounding on your side. Regular investments of even small amounts can add up, and over time the return on your investment may begin to earn a return as well. THE ADVANTAGE OF COMPOUNDING By starting early, small savings add up Total amount accumulated over 6, 12 and 18 years $200,000 $150,000 $100 Monthly Contributions $250 Monthly Contributions $500 Monthly Contributions $185,434 $100,000 $101,220 $92,717 $50,000 $41,852 $50,610 $37,087 $20,926 $8,370 $20,244 0 in 6 Years in 12 Years in 18 Years Source: Asset Management, College Planning Essentials, Pew Research Center, October 2014, based on the National Postsecondary Student Aid Study (NPSAS). 4 IRS rules apply. Consult your tax advisor before making any rollover decisions. 2
3 As a rule of thumb, I think it s always better to invest and earn interest rather than to borrow and have to pay interest. COMMON MISCONCEPTIONS Many people have misconceptions about financial aid in terms of who qualifies, how much or what type of aid the typical student receives, or how savings are counted in aid calculations. Recent data indicates that 61% of parents expect to receive some assistance. 5 Unfortunately, the hard truth is that not everyone qualifies, and not all aid is free 34% of all aid comes in the form of loans that have to be repaid. 6 Aid packages vary considerably and often fall substantially short of total costs. While 45% of families received some type of grant and 46% of families received some type of scholarship, only 0.3% of college students received enough aid through grants and scholarships to cover all costs. 7 5 Source: College Savings Foundation, 2012 Survey of Parents. 6 Source: The College Board, November 2014 Trends in Student Aid. 7 Source: Sallie Mae, How America Pays for College, Source: Expected Family Contribution (EFC) Tax-free means free from federal income tax. Another common misconception is that building a college fund will reduce a student s chances of qualifying for federal aid. But the fact is that family income counts much more than savings in determining eligibility. It s also important to choose the right investment vehicle. With a 529 college savings plan, for example, only 5% of the assets are counted when a parent holds the account for a child. 8 MAKE A PLAN WITH A FINANCIAL PROFESSIONAL An experienced Advisor can help you navigate the demands of multiple goals by breaking them down into manageable pieces. Even substantial goals seem less overwhelming when you regularly set aside a small amount for each one. Your Advisor will explain how much you need to save each month and which investment vehicle is most appropriate for each goal, taking advantage of tax benefits where possible. This can help you start early and stick to your program. For many parents, that will mean contributing regularly to a 529 plan as well as to their 401(k) or 403(b) retirement plan. A CLOSER LOOK AT 529 SAVINGS PLANS Let s look more closely at some of the advantages of 529 plans, as well as some limitations of Coverdell Education Savings Accounts (ESAs) and gifts to minors under Uniform Gifts to Minors Act (UGMA) that may make them less efficient vehicles. Tax-free earnings and withdrawals 9,10 Contributions to 529s are made with after-tax dollars, but investment earnings are tax-free when withdrawn for any qualified higher-education expense. For parents who start early and put time on their side, this can really add up: 15 to 20 years of investment returns plus compounding. In addition, some states also offer state tax incentives to residents. 10 Withdrawals from 529 plans are tax-free only if used to pay for qualified higher-education expenses (as defined by the IRS), such as tuition and other required fees, and room and board for students enrolled at least half time. Required course materials are also eligible, including books, calculators and software, as well as services for special-needs students. 11 Source: 529 Plan Advantages & Benefits, College Savings Plans Network 3
4 As long as it is used at an accredited institution that participates in the federal student-aid program, you can use a 529 to fund higher education costs in any in-state, out-of-state or international program. Residency not required You generally don t need to be a resident of a state to invest in that state s 529 plan. This lets you shop around for the most attractive program or one that offers specific benefits that are important to you. Contributions to state plans may be deductible on state returns, and some states even offer a deduction for contributions to another state s plan. Residents of Arizona, for example, receive a tax deduction for investments in any state s plan. You also are not required to use your 529 savings plan just for in-state schools. As long as it is used at an accredited institution, you can use a 529 to fund education costs in any in-state, out-of-state or international program. Low impact on financial aid eligibility One reason nearly twice as many parents choose a 529 plan over a custodial account is the difference in impact on federal financial aid. If a parent is the account owner, only 5% of 529 assets are counted for purposes of eligibility. That s considerably less than a custodial account under UGMA, for example. Because custodial accounts are treated as the student s assets, 20% of account assets are counted for purposes of eligibility. 12 Control of account A 529 account owner controls the distribution of funds for the life of the account, which can be an important consideration for parents and grandparents. By contrast, assets in a custodial account become the property of the recipient at his or her age of majority, and the recipient can decide where and how to spend the money. And 529 plans can be started by anyone, not just parents or grandparents. You can establish a 529 plan for any child in your life whether a family member or not. High contribution maximums increase efficiency Unlike a Coverdell ESA, where annual contributions are capped at $2,000 per beneficiary and eligibility is phased out for higher-income families, 529 plans are more flexible, with many plans allowing for contributions of more than $300,000 per beneficiary and no income limits on who may contribute. 529s can be used to transfer wealth to children and grandchildren efficiently, as contributions reduce an estate on a dollar-for-dollar basis. But keep in mind that contributions above $14,000 in a year may be subject to the gift tax, unless leveraging the five-year gifting feature of 529 plans Source: Expected Family Contribution (EFC) Source: Savingforcollege.com 4
5 TAKE THE NEXT STEP Paying for college is a major financial goal, and one that can have a significant impact on your ability to retire or fund other financial goals. A key first step is developing a long-term plan that includes funding college costs among your important goals. Your Advisor can help you balance your financial goals, determine how much you need to save, and put together a well-diversified investment strategy to help you meet your goals. Investing involves market risk, including possible loss of principal, and there is no guarantee that investment objectives will be achieved. Some states, for example, offer favorable tax treatment and other benefits to their residents only if they invest in the state s own Qualified Tuition Program. Investors should determine if their home state offers a 529 Plan that may offer such favorable tax treatment and benefits to residents or beneficiaries of that state that may not be available to investors or beneficiaries of other states. Investors should consult their legal, tax or accounting advisor before investing in any 529 Plan or contact their state tax division for more information. JPMorgan Chase Bank, N.A. and its affiliates do not offer legal, tax or accounting advice. Securities (including mutual funds and variable products) and investment advisory services are offered through Securities LLC (JPMS). Annuities and insurance products are provided by various insurance companies and offered through Chase Insurance Agency, Inc. (CIA), a licensed insurance agency, doing business as Chase Insurance Agency Services, Inc. in Florida. JPMS, a member of FINRA, SIPC and CIA are affiliates of JPMorgan Chase Bank, N.A. Products not available in all states JPMorgan Chase & Co. All rights reserved.
The Best Ways to Save for College
The Best Ways to Save for College In the college savings game, all strategies aren't created equal. The best savings vehicles offer special tax advantages if the funds are used to pay for college. Tax-advantaged
More informationpaying for college the benefits of using a 529 plan
paying for college the benefits of using a 529 plan Education is the Cornerstone of Personal Development And a college education can open doors for your children that would otherwise be closed. However,
More informationEducation Dreams Can Come True with Proper Planning
Education Planning Education Dreams Can Come True with Proper Planning Few people question the value of a college education, but the cost of sending just one child to college for four years can be staggering.
More informationTop 5 Mistakes Parents Make Saving for Their Child s Education
Top 5 Mistakes Parents Make Saving for Their Child s Education The BMO Institute provides insights and strategies around wealth planning and financial decisions to better prepare you for a confident financial
More informationCOLLEGE PLANNING SAVING FOR A COLLEGE EDUCATION. Why is it Important to Start Saving Now? The Projected Cost of College 2012/2013 2017/2018 2022/2023
Making College a Reality: A college education can be one of the most important investments you ll ever make. But the benefits of increased earning power and expanded horizons come at a price college is
More informationGive a Child the Freedom to Dream with OklahomaDream 529
Give a Child the Freedom to Dream with OklahomaDream 529 sm 1 Give the Gift of a Higher Education You want the best for your loved ones especially your children, grandchildren and other young people with
More informationGive a Child the Freedom to Dream with MI 529 Advisor
Give a Child the Freedom to Dream with MI 529 Advisor 1 Give the gift of a higher education You want the best for your loved ones especially your children, grandchildren and other young people with bright
More informationSaving for College Presentation
Page 1 of 9 Raj Patel, CPA, LLC Raj Patel, CPA ACA M COM DTP LLB 1585 Oak Tree Road, Suite 203 Kumar Soni Plaza Iselin, NJ 08830 (732) 283-9090 Fax: (732) 283-9091 raj@rpatelcpa.com www.rajpatelcpa.com
More informationThe Best Ways to Save for College
Securities America Michael Sullivan, CFP 41 West Bridge St. Suite D Dublin, OH 43017 (614) 734-WLTH(9584) mikes@wealthcoachfinancial.com wealthcoachfinancial.com The Best Ways to Save for College Page
More informationUNDERSTANDING YOUR COLLEGE SAVINGS OPTIONS
EDUCATION PLANNING UNDERSTANDING YOUR COLLEGE SAVINGS OPTIONS Parents today have more choices than ever for college savings. While that variety gives families greater flexibility, it also means parents
More informationThe Best Ways to Save for College
Strategic Wealth, LLC Bruce Wing, ChFC, CLU, RHU, REBC President 5975 Shiloh Rd. Suite 114 Alpharetta, GA 30005 678-456-5060 x101 bwing@strategic-wealth.com www.strategic-wealth.com The Best Ways to Save
More information529 plans. An education-savings vehicle with multiple benefits
529 plans An education-savings vehicle with multiple benefits The first-year college tuition bill in 2022 is projected to be $47,604* for an in-state average public education institution and $93,722* for
More information529 College Savings Plans. The smart way to save and invest for college
529 College Savings Plans The smart way to save and invest for college Higher Education Paves the Way An investment in higher education is an investment for the future; whether you are saving and investing
More informationNextGen College Investing Plan. An investment for a lifetime of achievement
NextGen College Investing Plan An investment for a lifetime of achievement An investment for a lifetime of achievement... begins today Education is the soul of a society as it passes from one generation
More information42% SAVE FOR COLLEGE WITH CONFIDENCE YOUR GUIDE TO EDUCATION FUNDING
SAVE FOR COLLEGE WITH CONFIDENCE YOUR GUIDE TO EDUCATION FUNDING Many parents and grandparents view funding their children s education as one of their most important financial priorities. Yet parents often
More informationGuide to 529 Accounts. The Flexible Way to Invest for College
Guide to 529 Accounts The Flexible Way to Invest for College The Most Important Kind of Long-Term Investment What is the return on investment for a college education? What is the return on investment
More informationCollege Planning Solutions for investing in your child s future
College Planning Solutions for investing in your child s future ADVANTAGES and COSTS Education Fuels Better Employment and Earnings Higher education lasts a lifetime. According to research from the College
More informationFinancial aid myths and facts INHERIT THE THINKING OF J.P. MORGAN NOT FDIC INSURED, MAY LOSE VALUE, NOT BANK GUARANTEED
Financial aid myths and facts INHERIT THE THINKING OF J.P. MORGAN NOT FDIC INSURED, MAY LOSE VALUE, NOT BANK GUARANTEED How does financial aid work? Financial aid is designed to fill the gap between what
More informationFive common 529 college savings plan questions
Advanced Planning September 2013 Wealth Planning Insights Contents Five common 529 college savings plan questions Pages 1 7 Given the historical increases of college costs, families with children are anticipating
More informationTax-Advantaged Ways to Save for College
Idaho Financial Group Matt Shannahan ChFC AIF 1159 East Iron Eagle Suite 120 Eagle, ID 83616 208-938-7800 matt@idahofinancialgroup.com www.idahofinancialgroup.com Tax-Advantaged Ways to Save for College
More informationILLINOIS 529 COLLEGE SAVINGS PLAN
ILLINOIS 529 COLLEGE SAVINGS PLAN Thinking about saving for your child s college education can be overwhelming. Stories of rising college loan debt and tuition increases do little to settle the nerves
More informationCoverdell, Custodial Account, or 529? How to Choose
Coverdell, Custodial Account, or 529? How to Choose Description: This article provides an overview of the different tax-advantaged accounts available to help fund an education. Synopsis: To keep pace with
More informationILLINOIS 529 COLLEGE SAVINGS PLAN
ILLINOIS 529 COLLEGE SAVINGS PLAN Thinking about saving for your child s college education can be overwhelming. Stories of rising college loan debt and tuition increases do little to settle the nerves
More information529 College Savings Plan
529 College Savings Plan MI 529 Advisor Plan Wealth Management Strategies: A Tax-Advantaged Way to Save and Invest for College NOTICE: MI 529 Advisor Plan accounts are not insured by any state, and neither
More informationEnrollment Materials. Dream BIG! How to go from here to there. Check CHET Out! www.aboutchet.com
Enrollment Materials Dream BIG! How to go from here to there. Check CHET Out! www.aboutchet.com Important Facts About Saving For College With CHET s Direct-Sold Plan Saving for college is one of the most
More informationWith Scholar s Edge, New Mexico s 529 College Savings Plan,
With Scholar s Edge, New Mexico s 529 College Savings Plan, You Can Get an Edge When You Save for College Table of Contents 1 3 EDGE 1 A 529 Plan that s almost as smart as your child EDGE 2 Potentially
More informationA case for 529 plans. Save for college as part of your broader financial plan INVESTMENTS ARE NOT FDIC INSURED NO BANK GUARANTEE MAY LOSE VALUE
A case for 529 plans Save for college as part of your broader financial plan INVESTMENTS ARE NOT FDIC INSURED NO BANK GUARANTEE MAY LOSE VALUE 0 NEW YORK S 529 ADVISOR-GUIDED COLLEGE SAVINGS PROGRAM Many
More informationTraditional IRAs and Roth IRAs
Securities America Michael Sullivan, CFP 41 West Bridge St. Suite D Dublin, OH 43017 (614) 734-WLTH(9584) mikes@wealthcoachfinancial.com wealthcoachfinancial.com Traditional IRAs and Roth IRAs Page 1 of
More informationA case for 529 plans. Save for college as part of your broader financial plan INHERIT THE THINKING OF J.P. MORGAN
A case for 529 plans Save for college as part of your broader financial plan INHERIT THE THINKING OF J.P. MORGAN INVESTMENTS ARE NOT FDIC INSURED, MAY LOSE VALUE AND ARE NOT BANK GUARANTEED. 0 NEW YORK
More informationTIAA-CREF LIFE GOALS SERIES SAVING FOR EDUCATION FINDING THE RIGHT WAY TO PAY FOR COLLEGE
TIAA-CREF LIFE GOALS SERIES SAVING FOR EDUCATION FINDING THE RIGHT WAY TO PAY FOR COLLEGE TIAA-CREF: FINANCIAL SERVICES FOR THE GREATER GOOD OUR HISTORY For more than 90 years, TIAA-CREF has been dedicated
More informationParent Guide to Paying for College. Getting Your Money
Parent Guide to Paying for College Getting Your Money F R O M T H E R I G H T P L A C E When it comes to college funding, you have lots of options. What s best for you and your child s needs? Use the following
More informationHow to Save Money for Your Child's College
Investing in Your Child s College Goal College Savings Planner for Parents & Grandparents Presented by the Arizona Commission for Postsecondary Education www.az529.gov By 2018, twenty-two of the top twentyfive
More informationThe Advantages and Disadvantages of Owning an Individual Retirement Account
IRAs Investing in Your Future Retirement Plans About Stifel Nicolaus Stifel Nicolaus is a full-service Investment firm with a distinguished history of providing securities brokerage, investment banking,
More informationThe Schwab 529 College Savings Plan. Rely on Schwab s expertise to help you plan for a child s college education.
The Schwab 529 College Savings Plan Rely on Schwab s expertise to help you plan for a child s college education. Saving for college: A 529 plan is essential Tuition, fees, books, room and board. It all
More informationwww.mnsaves.org ENROLLMENT MATERIALS
ENROLLMENT MATERIALS www.mnsaves.org Why should you save for college? What you might need. Paying for a college education can be one of the most pressing family financial challenges. Although it may seem
More informationCoverdell Educational Savings Account
Investor Insights Series Coverdell Educational Savings Account Stop Worrying about Paying for College! Save for your Childs Education Tax-Free, Investing in What You Know College Tuition is on the Rise,
More informationSaving for College - PARENT
Saving for College - PARENT Information Session Spring 2015 Today s Discussion Overview College Savings Options Selecting a 529 Plan Private College 529 Plan Next Steps Additional Resources 2 OVERVIEW
More informationEducation Funding at Merrill Lynch
Education Funding at Merrill Lynch Which will grow faster: children or their education costs? If you want to help fund a loved one s education expenses, several excellent options are available. Some of
More informationUnderstanding 529 Plans
a guide to Understanding 529 Plans A 529 plan is a qualified tuition program to help finance qualified higher education expenses. Table of Contents It Pays to Save for Education...2 Education Costs Outpace
More informationCoverdell Education Savings Account (CESA or ESA) Distributions used to pay for qualified education expenses. Custodial Accounts (UGMA/UTMA)
There are many choices for you to consider when charting your child's course to college. The option you choose depends on how many years you have to save, your overall financial goals and your investment
More informationSaving for College - Indiana
Saving for College - Indiana Information Session Spring 2015 Todays Discussion Overview College Savings Options Selecting a 529 Plan Indiana 529 Plans Private College 529 Plans Next Steps Additional Resources
More informationBasics of IRAs ING FINANCIAL SOLUTIONS. Your future. Made easier. SM
Basics of IRAs t FDIC/NCUA Insured t A Deposit Of A Bank t Bank Guaranteed May Lose Value t Insured By Any Federal Government Agency ING FINANCIAL SOLUTIONS Your future. Made easier. SM Traditional IRA
More informationMaximizing the Value of 529 Plans
Maximizing the Value of 529 Plans Not FDIC Insured May Lose Value No Bank Guarantee INVESTMENT MANAGEMENT 529 Plans A Flexible Way to Invest for College 529 plans have come to be well known for the benefits
More informationOPEN UP NEW POSSIBILITIES Make college a priority by saving for it today.
OPEN UP NEW POSSIBILITIES Make college a priority by saving for it today. The earlier you start saving, the less you re likely to pay for college. If you re thinking about relying mostly on loans to pay
More informationGet help achieving your financial goals.
Get help achieving your financial goals. TIAA-CREF: Committed to your overall financial well-being Did you know? TIAA was founded in 1918 to provide retirement security to university faculty. TIAA-CREF
More informationSaving for College - Minnesota
Saving for College - Minnesota Information Session Spring 2015 Todays Discussion Overview College Savings Options Selecting a 529 Plan Minnesota 529 Plans Private College 529 Plans Next Steps Additional
More informationTraditional IRAs and Roth IRAs
Parallel Financial Partners, LLC Brian Boughner, CFA, CMT Anthony Mahfood 511 Rhett Street Suite 2A Greenville, SC 29601 864-385-7999 anthony@parallelfinancial.com www.parallelfinancial.com Traditional
More informationA PROFESSIONAL S GUIDE TO EDUCATION SAVINGS
CPAs Attorneys Enrolled Agents Tax Professionals A PROFESSIONAL S GUIDE TO EDUCATION SAVINGS www.edwardjones.com/teamwork Professional Education Network TM CONTENTS 1 Introduction 2 Saving versus Borrowing
More informationILLINOIS 529 COLLEGE SAVINGS PLAN
ILLINOIS 529 COLLEGE SAVINGS PLAN Your children deserve an opportunity for higher education and you can help them achieve it. Whether your kids are learning to walk or in their teenage years, it s never
More informationRoth 401(k) A new contribution option available in your 401(k) plan
THE RETIREMENT GROUP AT MERRILL LYNCH Roth 401(k) A new contribution option available in your 401(k) plan Your 401(k) plan is now more flexible than ever! With a choice between the traditional 401(k) and
More informationIAdvisor 529 Plan. Investor Guide. Imagine. Educate. Achieve. Invest in their future today. Investment options customizable to your needs
IAdvisor 529 Plan Imagine. Educate. Achieve. Invest in their future today. Investor Guide Investment options customizable to your needs A flexible and tax-advantaged way to save for college Potential advantages
More informationSaving for Education: A Long-Term Investment. A Guide to Understanding 529 Plans
Saving for Education: A Long-Term Investment A Guide to Understanding 529 Plans Table of Contents It Pays to Save for Education................. 1 Education Costs Outpace Inflation............ 2 The Importance
More informationA guide to investing in 529 savings plans
A guide to investing in 529 savings plans What you should know before you buy Wells Fargo Advisors wants to ensure that you are investing in the 529 plan that best suits your investment objectives, risk
More informationA FAMILY GUIDE TO SAVING FOR COLLEGE
START SMART A FAMILY GUIDE TO SAVING FOR COLLEGE SCHOLASTIC and associated logos are trademarks and/or registered trademarks of Scholastic Inc. All rights reserved. WELCOME, PARENT OF A FUTURE COLLEGE
More informationFinancial Checkup. Use this Checkup to: Get Organized Identify the Gaps in Your Financial Life Work More Effectively With Your Financial Advisor
Financial Use this to: Get Organized Identify the Gaps in Your Financial Life Work More Effectively With Your Financial Advisor Table of Contents Financial Topics: Page Investments General......................................
More informationFinancial Plan for Your 30s
Financial Plan for Your 30s 0 5 10 15 20 25 30 35 40 Number of years 40 years 30 years 35 years 25 years CIR116014 Getting Started In their 30s, many workers have an established job and cash flow. With
More informationBuilding Your. Retirement Roadmap
Building Your Retirement Roadmap Today s Agenda Discuss a roadmap for saving to help you meet your retirement goals Look at key financial principles to follow Review action steps to consider 2 The Foundation
More information529 College Savings Plans. Simply the Smart Way to Save for College
Bl 529 College Savings Plans Simply the Smart Way to Save for College What Could Be Smarter? There is no more precious gift you can give a child than a college education and a 529 plan is simply the smart
More informationUsing Credit Strategies Wisely in Retirement Planning.
Using Credit Strategies Wisely in Retirement Planning. Prepared by. Lawrence Katz, Regional Private Banking Manager. Todd Barfield, Regional Private Banking Manager. In this white paper. 1 Meeting capital
More informationTax-Savvy Planning for College Expenses
3/31/14 Tax-Savvy Planning for College Expenses The American Opportunity Tax Credit Remains Available through 2017 If you are a parent with hopes of future college diplomas for your children, you are likely
More informationAn introduction to college financial aid
An introduction to college financial aid Advice for getting the help your child or grandchild needs With the pace of higher-education costs consistently rising faster than inflation, as measured by the
More informationTax-smart ways to save and invest. TIAA-CREF Financial Essentials
Tax-smart ways to save and invest TIAA-CREF Financial Essentials Today s agenda: 1. Finding funds for saving 2. Tax law provisions promoting saving 3. TIAA-CREF savings opportunities 4. TIAA-CREF can help
More informationFinancial Needs Analysis. Frank and Kathy Sample-Accumulator Hartford, Connecticut
Financial Needs Analysis Frank and Kathy Sample-Accumulator Hartford, Connecticut PREPARED BY: JANET LERNER, CFP - LERNER, STEVENSON & ASSOC. JUNE 8, 2012 Table of Contents Introduction... 4 Net Worth...
More information586475 (Rev 03) Cash Sweep Program Disclosure Statement
586475 (Rev 03) Cash Sweep Program Disclosure Statement Cash Sweep Program Disclosure Statement Summary Please consult the full text of the disclosure statement below for further information at the pages
More informationSaving for College - Texas
Saving for College - Texas Information Session Spring 2015 Today s Discussion Overview College Savings Options Selecting a 529 Plan Texas 529 Plans Private College 529 Plan Next Steps Additional Resources
More informationDC College Savings Plan Helping Children Reach a Higher Potential
529 DC College Savings Plan Helping Children Reach a Higher Potential For Dealer and Financial Advisor Use Only. Not to be Distributed to the General Public. OVERVIEW The DC College Savings Plan is a Section
More informationFrom Here to There. Michigan s 529 College Savings Plan
From Here to There Michigan s 529 College Savings Plan You Can Get There. We Can Help. Paying for a college education can be one of the most pressing financial challenges a family may face. Although it
More informationUSING A 529 PLAN TO PAY FOR COLLEGE
USING A 529 PLAN TO PAY FOR COLLEGE Through tax-free growth, 529s can help you save more money faster, making it a vehicle of choice when saving for higher education. USING A 529 PLAN TO PAY FOR COLLEGE
More informationRETIRING IN THE 21ST CENTURY
RETIRING IN THE 21ST CENTURY A CRITICAL NEED FOR PLANNING AND SAVING Today s and tomorrow s retirees are unlike any who came before: They re living longer, can t rely on pensions and understand they ll
More informationTopics to be covered
Topics to be covered The High Cost of Higher Education College Savings Strategies Choosing a 529 Plan Financial Aid and Student Loans Why College Is Still Worth It The cost of college has been rising fast
More informationGuaranteed to Fit Your Life
An Overview Guide for Individuals Guaranteed to Fit Your Life The value of whole life insurance throughout your lifetime Insurance Strategies Contents 1 Whole Life Insurance Basics 2 Insurance That Fits
More informationYour 401(k) Quick tips
Your 401(k) Quick tips The 401(k) plan offers you an easy way to prepare for retirement, and provides great benefits that help you boost your savings, including: Company matching contribution of up to
More informationMaximizing the Value of 529 Plans
Maximizing the Value of 529 Plans Not FDIC Insured May Lose Value No Bank Guarantee INVESTMENT MANAGEMENT voyainvestments.com 529 Plans A Flexible Way to Invest for College 529 plans have come to be well
More informationFUTURE SCHOLAR 529 COLLEGE SAVINGS PLAN BECAUSE YOU CAN HELP MAKE THEIR DREAMS COME TRUE
FUTURE SCHOLAR 529 COLLEGE SAVINGS PLAN BECAUSE YOU CAN HELP MAKE THEIR DREAMS COME TRUE CONTENTS 3 Welcome to the Future Scholar 529 plan 4 5 Tax advantages 6 7 Control and flexibility 8 9 Investment
More informationTURN A DREAM INTO A DEGREE A COLLEGE SAVINGS PROGRAM FOR NEW JERSEY RESIDENTS. Follow us @NJBEST529
TURN A DREAM INTO A DEGREE A COLLEGE SAVINGS PROGRAM FOR NEW JERSEY RESIDENTS Follow us @NJBEST529 What Does the Future Hold? As soon as your child is born, you begin imagining what the future will hold.
More informationSaving for College: California
Saving for College: California Information Session Spring 2015 Todays Discussion Overview College Savings Options Selecting a 529 Plan California 529 Savings Plans Private College 529 Plans Next Steps
More information5 Strategies for College Savings Success
5 Strategies for College Savings Success A College Education is Expensive Projected Average Cost for Four Years of College 1 College costs have climbed over 5% annually during the past 10 years more than
More informationAim High For Higher Education. Edvest: Wisconsin s 529 College Savings Plan
Aim High For Higher Education Edvest: isconsin s 529 College Savings Plan 3 Aim High for your Child s Future 4 How Edvest orks 5 Edvest Offers Tax Advantages 6 Edvest is Flexible to Use 7 Investment Options
More informationThe ABCs of 529 Plans
Clear Path Advisory Michael Steinhardt ChFC AIF 1777 Reisterstown Road Suite 285 Pikesville, MD 21208 410-486-5242 michael@clearpathadvisory.com www.clearpathadvisory.com The ABCs of 529 Plans Page 1 of
More informationGuaranteed Income for Life Select
Guaranteed Income for Life Select Adding a source of guaranteed income to your retirement A source of guaranteed income for life Retirement planning that incorporates a guarantee At John Hancock Retirement
More informationTAX ADVANTAGED COLLEGE PLANNING WITH SECTION 529 PLANS 1
$AVING FOR COLLEGE TAX ADVANTAGED COLLEGE PLANNING WITH SECTION 529 PLANS 1 It s a difficult world putting your kids through college these days. First, no-one seems to do the four year plan anymore. Plus,
More informationEven brilliance needs a thoughtful plan. Inherit the thinking of J.P. Morgan. New York s 529 Advisor-Guided College Savings Program
Inherit the thinking of J.P. Morgan Even brilliance needs a thoughtful plan New York s 529 Advisor-Guided College Savings Program INVESTMENTS ARE NOT FDIC INSURED NO BANK GUARANTEE MAY LOSE VALUE No matter
More informationChapter 7 MULTIPLE CHOICE QUESTIONS
Chapter 7 MULTIPLE CHOICE QUESTIONS Question 1. The best way to accumulate funds for college education is to A. buy stocks B. buy a CD C. start investing early D. open an account in the child s name Question
More information2016 Tax Planning & Reference Guide
2016 Tax Planning & Reference Guide The 2016 Tax Planning & Reference Guide is designed as a reference and is not intended to function as tax advice. Please consult your professional accounting advisor
More informationdialogue COLLEGE SAVINGS OPTIONS AND THE IMPACT OF SAVINGS ON FINANCIAL AID
research dialogue issue no. 83 march 2005 83 COLLEGE SAVINGS OPTIONS AND THE IMPACT OF SAVINGS ON FINANCIAL AID Jennifer Ma, TIAA-CREF Institute This article describes some recent trends in the financing
More informationRetirement Plans 401(k) s Cash Receivables Businesses Real Estate Investment Accounts. 8 Risks You Must Overcome
The Financial Survey A Professional Process to Overcome the Risks to Financial Success Retirement Plans 401(k) s Cash Receivables Businesses Real Estate Investment Accounts External Risk Inflation Higher
More informationThe 529 Plan. tomorrow. Take care of your needs today while providing for your loved ones ADVISOR COLLEGE INVESTING PLAN
ADVISOR COLLEGE INVESTING PLAN The 529 Plan Take care of your needs today while providing for your loved ones tomorrow THE VALUE OF AN ADVISOR. THE STRENGTH OF FIDELITY. The Advisor College Investing Plan
More informationStocks and Taxes Ordinary Income Versus Capital Gains Jobs & Growth Tax Relief Reconciliation Act of 2003
Stocks and Taxes Unlike death, taxation can at least be minimized. In this article, we will examine the basic framework of individual taxation in the United States as it relates to stock investing and
More informationFPA 7 FPA 6. WHAT ABOUT GOVERNMENT PROGRAMS? The states and the federal government have created several options for saving for college.
HOW MUCH WILL IT COST TO SEND MY CHILD TO COLLEGE? Educating your children will probably be one of the biggest financial challenges you ll face in your lifetime. Today, the costs to attend an elite private
More informationRising tuition for college education is a daunting
By Sharon L. Klein Paying for the (Grand) Kids College Know all the options and combinations thereof Rising tuition for college education is a daunting reality for many parents and grandparents. Even the
More informationThe Only Advisor- Sold 529 College Savings Plan with a Michigan Income Tax Deduction. Michigan Education Savings Program
The Only Advisor- Sold 529 College Savings Plan with a Michigan Income Tax Deduction Michigan Education Savings Program Life Ambitions Making a Dream Reality We all want the best for our children and grandchildren,
More informationBLUE PAPER. Roth 401(k): Creating a Tax-Advantaged Strategy for Retirement IN BRIEF. January 2016
BLUE PAPER Roth 401(k): Creating a Tax-Advantaged Strategy for Retirement Roth 401(k) Helps Investors Take Diversification * to the Next Level. IN BRIEF January 2016 Just as a well-diversified portfolio
More informationCollege Planning Essentials A comprehensive guide to saving and investing
College Planning Essentials A comprehensive guide to saving and investing 2013 Edition INHERIT THE THINKING OF J.P. MORGAN INVESTMENTS ARE NOT FDIC INSURED, MAY LOSE VALUE AND ARE NOT BANK GUARANTEED Table
More informationHow to Handle a Windfall
Rethinking your financial opportunities How to Handle a Windfall INVESTMENT AND INSURANCE PRODUCTS: NOT FDIC INSURED NOT A BANK DEPOSIT NOT INSURED BY ANY FEDERAL GOVERNMENT AGENCY NO BANK GUARANTEE MAY
More informationVariable universal life insurance. Quick reference. You want it all.
Variable universal life insurance Quick reference You want it all. Need more from your life insurance? You need life insurance protection for your family, retirement investments for yourself and your preschooler
More informationProfile of Households Saving for College
Investment Company Institute Research Series Profile of Households Saving for College INVESTMENT COMPANY INSTITUTE Investment Company Institute Research Series Profile of Households Saving for College
More informationINDIVIDUAL LIFE INSURANCE. A Consumer Resource. Stag Wall Street. Flexible-premium, single-life variable universal life insurance
INDIVIDUAL LIFE INSURANCE A Consumer Resource Stag Wall Street Flexible-premium, single-life variable universal life insurance Why Stag Wall Street? Stag Wall Street Variable Universal Life insurance provides
More informationCOLLEGEADVANTAGE 529 PLAN A SOLID FOUNDATION
COLLEGEADVANTAGE 529 PLAN A SOLID FOUNDATION The BlackRock CollegeAdvantage 529 Plan is designed to be a Qualified Tuition Program under Section 529 of the Internal Revenue Code. The Plan is sponsored
More informationTHE TAX ACT OF 2001. More Savings More Choices
A10695 (10/01) THE TAX ACT OF 2001 More Savings More Choices Understanding the Economic Growth and Tax Relief Reconciliation Act of 2001 Summary of Rules Applying to Distributions from Tax-Favored Products
More information