The Calculus of Planning For College Expenses

Category: Education Funding

September 29, 2015  |  

Updated Rules Make Grandparent Owned 529’s More Attractive

Key Takeaways: New tax law change makes grandparent-owned 529 plans more attractive than ever. Grandparent-owned 529 plans can now be used to fund the final two years of college–not just the final year–with no detrimental impact on the grandchild’s financial aid package. Consider all of your college savings options carefully before investing. Don’t hesitate to ask a financial advisor for guidance. We’ve written previously about the advantages of using 529 college savings plans to help […]

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July 1, 2015  |  

Know Someone Who Just Had a Baby? Let the Planning Begin!

Time goes fast when you’re a new parent. As I mentioned in a previous blog, my wife and I were expecting our first child in April. We were anticipating mid-April, but (much to my wife’s dismay) it turned into late April. My son Archie was born on April 28th, a happy and healthy little boy. A lot has changed in our lives during this time, and it’s all been a blur.

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March 27, 2015  |  

Using 529 Plans for College Funding – Part 2 Real world case study

Key Takeaways When it comes to 529 plans for our clients, we recommend those that meet our firm’s overall philosophy about investments—and costs. The earlier you start saving the better. If you wait until your child is say, 10 years old, you would need to sock away $14,000 a year to have $150,000 on hand by the time your child is age 18. Here’s the good news. Contributors may earn state income tax deductions on […]


March 27, 2015  |  

Using 529 Plans for College Funding – Part 1

Key Takeaways 529 plans are tax-advantaged education savings accounts operated by state or educational institutions. In most types of 529 plans, earnings are tax-deferred while in the account, and tax free when withdrawn for qualified education expenses. Some states, including Pennsylvania, allow your contributions to be deductible at the state level. As with so many other important investments you make, it’s about more than just returns–you have to look carefully at fees and tax implications. […]