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Maximize Your 529 Plan To Pay For College [Infographic]

A 529 college savings plan is a great option for families looking to save money for their child’s education. State-sponsored 529 education savings plans allow you to use after-tax contributions to grow tax-deferred earnings. You can join the plan offered by any state, but there may be unique benefits or additional tax breaks in your state.

 

The funds can be used tax-free for qualified educational expenses, such as tuition, fees and textbooks. With a 529 plan, families can open an account and then invest their money for long-term growth.

 

If you’re on the fence, find out how a 529 plan works and some of the top benefits. With a 529 plan, you can:

 

  • Get helpful federal tax breaks
  • Have a low-maintenance account
  • Gain investment flexibility
  • And more

 

Once you’ve decided on a 529 plan, there are some good strategies you should use to take maximum advantage of the program. Learn about such tips as:

 

  • Start early to invest aggressively
  • Pay your selected school directly
  • Pass the plan money along to another child
  • And more

 

Find out more about the top benefits of a 529 with our infographic, “Maximize Your 529 Plan To Pay For College,” and learn how to take the most advantage of this plan.

 

Maximize Your 529 Plan To Pay For College [Infographic]

 

Cadence can help you save for college in other ways, too, with Coverdell Education Savings Accounts, Roth IRAs and custodial accounts, along with personal savings and investment accounts, educational trusts, money markets and certificates of deposit. Contact Cadence Bank to learn more.

 

 

 

 

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