A 529 plan is a great vehicle to start saving for your child’s college education expenses. Much like your 401(k) plan at work, 529 plans offer a set list of investments and the assets inside can grow tax free. We have created some projections to help you understand what balances you might expect if you save $50, $100, $200 or $300 monthly along with some key takeaways.
I had a wonderful experience recently attending my son’s graduation from the University of North Carolina at Chapel Hill. It was inspiring to be in Kenan Stadium celebrating his accomplishment and that of 5,000 other students, including undergraduate, graduate and doctoral degree recipients. Graduation pomp and ceremony are inspiring, mixed with the contagious joy that
College saving is a topic near and dear to my heart, as we have a 17-year-old who is currently undergoing the college exploration process. It seems like just yesterday that we dropped him off for his first day of kindergarten. He looked so small walking into that big school with his little turtle backpack on. My wife and I both had tears in our eyes. Now he is towering over us at 6 feet, 2 inches tall, constantly eating and never gaining weight.
Congratulations! You have four years of tuition, room and board stashed away in your 529 plan, and your child hasn’t even graduated from high school yet. Now you can breathe easily, right? Well … maybe, maybe not.
There are several tax benefits when saving for and paying for college.
I am a parent of two college students and a sophomore in high school, which makes me uniquely positioned to write about planning for retirement while juggling over a decade of education expenses.
Student loan debt reached $1.6 trillion in June of 2020. This is close to 10% of the U.S. gross domestic product. How did we get here, and what options do families have for financing higher education?
The last years of high school are an exciting, stressful and scary time for students, from academic pressure to social and behavioral issues. They are adults in many ways, but still little kids in other ways. Having never parented a child through this stage before, my wife and I learned a lot in the process.