Save for Your Kids Education Using a 529 College Savings Plan

More than half of college attendees in the US take out student loans. Imagine saving your kids from the financial burden of student loans without being super-rich. It’s possible with a 529 plan. In this episode, I talk about 529 plans, how they work and why they’re a smart way to save for you kids’ college education.

In today’s episode, you’ll find out:

What a 529 plan is The two types of 529 plans to consider How to save your kids from the burden of student loans How much to save each month to pay for your kids’ college What is a UTMA/UGMA account What tax benefits come with saving with a 529 plan Tax penalties to watch out for with a 529 plan What happens to the money if your kid doesn’t go to college What is the rule of 72 and how it can double your savings Which states allow you to open a 529 plan anywhere What to do before opening a 529 plan Full show notes at: http://studentloanplanner.com/110

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Source: Student Loan Planner