529 & Education Savings Plans For Dummies book cover

529 & Education Savings Plans For Dummies

Author:
Margaret A. Munro
Published: April 18, 2023

Overview

Don’t let money get in the way of your kids’ best education

529 & Education Savings Plans For Dummies helps you sort through the vast amount of information about education savings accounts and choose the plans that are best for you and your family. A college or private K-12 education is generally parents’ single largest expense for their children. 529 plans and 530 plans (Coverdell accounts) are relatively solid investment vehicles that can make saving for college much easier, providing tax advantages that other types of investments can’t match. Education savings can be part of your overall wealth accumulation strategy, and this book can show you which plans are right for you, help you decide when to start saving, and guide you through determining how much to save per year in order to meet your goals—and help your kids meet theirs.

  • Learn about the different types of tax-sheltered and tax-advantaged ways to save for education
  • Create a saving and investment strategy that makes sense for your family
  • Demystify the 529 and 530 plan rules and maximize your tax advantage
  • Help set your kids on the path to success and to their college of choice

This is the perfect Dummies guide for parents or family members who want to begin saving for a college or K-12 education and who may want to supplement their current savings with tax-sheltered, education-specific accounts, or tax-advantaged investment accounts that may be used for education funding.

Don’t let money get in the way of your kids’ best education

529 & Education Savings Plans For Dummies helps you sort through the vast amount of information about education savings accounts and choose the plans that are best for you and your family. A college or private K-12 education is generally parents’ single largest expense for their children. 529 plans and 530 plans (Coverdell accounts) are relatively solid investment vehicles that can make saving for college much easier, providing tax advantages that other types of investments can’t match. Education savings can be part of your overall wealth accumulation strategy, and this book can show you which plans are right for you, help you decide when to start saving, and guide you through

determining how much to save per year in order to meet your goals—and help your kids meet theirs.
  • Learn about the different types of tax-sheltered and tax-advantaged ways to save for education
  • Create a saving and investment strategy that makes sense for your family
  • Demystify the 529 and 530 plan rules and maximize your tax advantage
  • Help set your kids on the path to success and to their college of choice

This is the perfect Dummies guide for parents or family members who want to begin saving for a college or K-12 education and who may want to supplement their current savings with tax-sheltered, education-specific accounts, or tax-advantaged investment accounts that may be used for education funding.

529 & Education Savings Plans For Dummies Cheat Sheet

When you're ready to start saving for college, check out the different savings plans available so you pick the one best for you. Find out how you can cut wasteful spending from the budget to contribute more to your college saving plans, and be aware of provisions affecting the conditions of the 529 and Coverdell accounts.