Investing in Education with a 529 Plan




Investing in Education with a 529 Plan

Get ready to celebrate because May 29th is just around the corner, and it's 529 Day! This special day reminds us how important it is to save for college, especially here in California, where we have amazing universities and colleges. Let's explore why 529 Day matters and how you can use 529 plans to invest in your child's future education.

What's 529 Day All About?
May 29th is known as 529 Day across the country. For us Californians, it's a chance to talk about saving for college. No matter if your child wants to go to a UC, CSU, or another school, starting a 529 plan can help make their dreams come true.

Why 529 Plans Are Great
California's ScholarShare 529 provides families with great perks such as:

  • Tax-Deferred Growth: Contributions to California's ScholarShare 529 plans grow without being taxed, allowing investments to compound faster over time.
  • Tax-Free Withdrawals: Withdrawals from California's ScholarShare 529 plans are tax-free when used for qualified higher education expenses, providing a significant financial advantage for covering educational costs.
  • Flexibility in Use: With California's ScholarShare 529, funds can cover a wide range of qualified education expenses, including tuition, room and board, fees, books, supplies, computers, K-12 tuition, and even apprenticeship expenses.
  • Control and Options: You have the freedom to use funds for various educational paths, including transferring leftover funds to another eligible beneficiary or repaying student loans, providing versatility in managing your savings.

How to Make the Most of Your 529 Savings
Here are some easy tips to help you get the most out of your 529 plan:

  • Start Early: The earlier you start saving, the more time your money has to grow.
  • Set Goals: Think about how much you want to save and what you're saving for. It'll help you figure out how much to put in your plan.
  • Choose Investments Wisely: ScholarShare 529 has lots of options for how to invest your money. You can pick the ones that match what you're comfortable with.

By starting a ScholarShare 529 plan, you're not just saving money – you're investing in your child's future. So let's get started! Get a free consultation from a Provident Financial Consultant233 by calling (800) 656-4096.

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