Education is one of the most important investments you can make for your child's future, and a 529 plan offers a powerful way to save and invest for educational expenses. At One North Star, we understand the significance of planning for higher education, and we're here to explain how 529 plans can benefit your family's financial goals. Let's explore why investing in education with a 529 plan is a smart choice and how our advisors can assist you along the way.
What is a 529 Plan?
A 529 plan is a tax-advantaged investment account designed to encourage saving for future educational costs. These plans are offered by states and educational institutions and provide benefits such as tax-free growth and withdrawals when used for qualified education expenses like tuition, room and board, books, and more.
How 529 Plans Can Help You
Tax Advantages: Contributions to a 529 plan grow tax-deferred, and withdrawals are tax-free when used for qualified educational expenses, making it an attractive option for college savings.
Flexible Use: Funds in a 529 plan can be used at eligible educational institutions nationwide for various education-related expenses.
Control and Ownership: The account owner retains control over the funds and can change beneficiaries if needed.
Benefits of Consulting with a 529 Plan Advisor
Partnering with our experienced 529 plan advisors at One North Star offers several advantages:
Customized Guidance: Our advisors will assess your financial situation and educational goals to recommend the most suitable 529 plan tailored to your needs.
Investment Strategy: We'll help you select appropriate investment portfolios within the 529 plan based on your risk tolerance and investment preferences.
Tax Considerations: Our advisors can explain the tax implications and benefits associated with 529 plans, including state-specific tax incentives.
Why Choose One North Star?
When you choose One North Star for your college savings needs, you benefit from:
Expertise: Our advisors specialize in college savings strategies and stay updated on the latest trends and regulations in the field.
Personalized Approach: We take a personalized approach to understand your family's unique circumstances and goals, creating a customized 529 plan strategy that fits your needs.
Comprehensive Services: In addition to 529 plans, we offer a range of financial services to support your overall wealth management and retirement planning.
Start Investing in Your Child's Education Today!
Ready to start investing in your child's education with a 529 plan? Contact One North Star to schedule a consultation with one of our experienced advisors. Let us help you pave the way for your child's bright educational future through strategic financial planning and expert guidance!
NOTE: Past performance is no guarantee of future results. A risk of loss is involved with investments in capital markets. Please consider investment actions in light of your goals, objectives, cash flow needs, time horizon and other lasting factors.
