Tuesday, May 1, 2012

Saving for Kids College - Set up An Account Today!!

Don't wait another minute to get your kids college savings accounts set up!  I have been procrastinating about this for years because I felt like I needed to find the right financial adviser or have just enough money to set one up.  I am here to tell you that it is SO EASY to set one of these accounts up online. 

The website to go to is path2college529.com.  You can open a 529 college savings plan for as low as $25!!  You can then contribute as low as $25 per month!!  So, even if you feel like you don't have the extra money to put toward this, you can look again because we ALL have $25 that we spend on going out to eat or on miscellaneous things that are not needed, right? 

The benefits of this 529 plan are great! Here are my top 10 reasons everyone who has a child should save for college with a 529 plan:

  1. You get a Georgia State Tax deduction for your yearly contributions up to $2000 per year.
  2. You don't have to pay any fees to get this setup, it costs you nothing but the initial contribution ($25).
  3. You have 7 different investment options to choose from.
  4. You have a free adviser to speak to who helps you by explaining your investment options and the plan details.  
  5. You can manage your account online to change monthly contribution amounts, auto-deductions, etc.
  6. You can have grandparents, friends and other relatives give a contribution to their college as a gift.
  7. You can start saving as little as $25 per month toward your kids college education.
  8. Your kid can go to any school of their choice using this money, in-state, out-of-state, technical school.
  9. You are starting the process of saving for this large investment early, planning is key!
  10. You can begin to stress to your kids the importance of a college education and your dedication toward that end for them.
These are just a short list of benefits, I'm sure their are tons more!  So, why don't you get your kids accounts open today and get the 'college savings' part of your family's finances organized once and for all!!

Parents, don't wait any longer.  This took me about 30 minutes on the phone with the adviser to get both of my boys college savings accounts set up.  You will be glad you did!!

Yours in organizing,

Michelle

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