From 529 plans through a variety of educational savings approaches offered by individual institutions and state governments, there are more ways to save for children's and grandchildren's education than ever before. Let a member of Encompass Financial Advisors explore the college needs of your next generation with an approach that is designed to fit your individual lifestyle and financial profile.
Investors should consider carefully the investment objectives, risks, and fees and expenses associated with a 529 College Savings Plans before investing or sending money. The official program offering statement, which includes information on municipal fund securities, is available from your Financial Advisor and should be read carefully before investing.
The value of a 529 College Savings account may fluctuate, and there is no guarantee that any investment portfolio will achieve the stated goal. Your investment may be worth more or less than its original value.
Non-qualified withdrawals are taxable as ordinary income to the extent of earnings and may also be subject to a 10% Federal income tax penalty. State tax treatment may differ. Investors should discuss their particular tax situation with a tax professional.
We have identified 13 essential focus areas that we feel must be addressed in the lives of most of the people we serve. Some of these focus areas may not presently apply to your situation. You may also have multiple focus areas, and you can prioritize the order of importance as you choose to address them. It is important that you include all members of your professional team in the planning process, including your attorney, tax professional, and financial advisor.
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