Expert Q&A about:
College Savings and 529 Plans
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I would like to contribute to my granddaughter’s 529 college saving plan, but I am not sure if I can? Is it possible and how do I do it?
Asked almost 2 years agoI live in a state without income tax and I don’t believe there is any tax benefit from investing in our state’s college savings plan, so I can pick and choose a plan from any state. However, there are so many different options! What is the best plan? How should I evaluate all the different options?
Asked about 2 years agoI am considering our alternatives to start saving for our son and it looks like the only option is to use a 529 plan, is that correct? Is this the best way to start saving for college and what are the disadvantages? Thank you
Asked almost 2 years agoDoes it work to have more than one owner, or joint accounts with a 529 plan? Please let me know, thank you
Asked almost 2 years agoIf we set up a 529 plan, I am trying to better understand what my son will be able to use the funds for, in terms of his college expenses.
Asked almost 2 years agoHow do I set them up and contribute? Are 529s like another brokerage account, but taxed differently? How is the money invested?
Asked almost 2 years agoI have been looking online, but I am wondering what a new parent should buget for to better plan for having a child. Thanks from a new mom!
Asked about 2 years agoWhat is the best way to start investing money for my children? Is there a certain type of account I should set up and what kind of investments should I make? Any suggestions on how to get started?
Asked about 2 years agoAre the maximum contribution limits all the same, regardless of plans or the state I live in? From what I know, I am concerned about college costs increasing and I am not sure if the 529 plan will adequately cover our childrens expenses. Are there other ways to get over the maximium, if the limit is not sufficient?
Asked almost 2 years agoMy children are still young, but I would like to start putting money aside for their education. What alternatives are available for college savings? Are they tax free? Do they typically have a lot of restrictions for how the money can be used?
Asked about 2 years agoIf I need to take money out of the 529 plan before I am in college, what are the rules or penalties?
Asked almost 2 years agoHow much of my college expenses, such as books, living expenses, or even classes can I deduct?
Asked about 2 years ago
