Throughout your life, there are big milestones that you save up for. Those range from buying a home or a car to saving for college, a wedding, and many other important events. We know the cost of college can be very intimidating. That’s why we at Burr Capital Advisors are here to help you save for college and set up a 529 Savings Plan to relieve some of that financial stress. Listed below are a few of the many benefits that come with a 529 College Fund.
Benefits of a 529 College Savings Plan:
What Is A 529 Plan?
At Burr Capital Advisors, our goal is to help you obtain financial security for you and your family down the road, even when milestones in you or your family’s life come up like going off to college. Simply put, a 529 College Savings Plan is a plan that offers tax and financial aid benefits to save for the expenses that come along with attending a college or university.
How Does A 529 Plan Work?
Generally speaking, contributions to a 529 College Savings Plan are typically made from after-tax dollars. More often than not, 529 plans are opened by parents or grandparents that wish to set money aside to assist their children or grandchildren in paying for college. The money put into the 529 account grows on a tax-deferred basis until it’s pulled out to pay for school.
If you are a parent or grandparent that is looking into the future and wants to help set your child or grandchild up for a college education, we at Burr Capital Advisors are here to help. We believe in educating our clients and providing them with the information and resources needed to better understand all of their options, enabling them to make the best financial decisions for them and their families. We will guide you step-by-step through the process so you feel confident and equipped to invest your money wisely in order to achieve your financial goals.
Interested in creating a 529 College Savings Plan? Contact our financial advisors today to get started. We are here to take the confusion out of the equation and empower you with the resources you need to plan for the future.