Part of good parenting (grandparenting) is preparing your children for the
future. Statistics show that higher education can increase your child's
chances of receiving a better paying job later on in life. Given the rising
costs of a college education, it benefits you to start a higher education
funding plan now, instead of later. Planning early has added advantages
for both you and your child.
Good parenting is also making sure that your children or loved ones
can still have their dreams realized even if something happens to you. As
with planning for a child's education, now-rather than later-is the best
time to make sure you have adequate life and disability insurance protection.
A 529 College Savings Plan is a tax-advantaged way of saving for a higher
education. Anyone (a parent, spouse, grandparent, other family member,
friend, or you) can contribute to the Plan. The student uses the 529
account for qualified education expenses, such as tuition and room and
board. The contributor (or account owner) has complete control over the
account and can contribute no matter his/her income level. The contributor selects
from a variety of investment options with varying rates of return.
See-from a comparison chart-how 529 College Savings Plans stack up against these
other tax-favored college savings options: 529 Prepaid Tuition Plans, Education Savings Accounts,
U.S. Savings Bonds, and custodial accounts.
Check out comprehensive articles about college planning, 529 College Savings Programs, Education Savings Accounts, college tax credits and deductions, and financial aid.
For more information, contact the Honda FCU Investment and Insurance Services Representative serving Honda Federal Credit Union for a no cost, no obligation consultation.
Representatives are registered, securities are sold, and investment advisory services offered through CUNA Brokerage Services, Inc. (CBSI), member FINRA/SIPC, a registered broker/dealer and investment advisor, 2000 Heritage Way, Waverly, Iowa 50677, toll-free (800) 369-2862. Nondeposit investment and insurance products are not federally insured, involve investment risk, may lose value and are not obligations of or guaranteed by the financial institution. CBSI is under contract with the financial institution, through the financial services program, to make securities available to members. CUNA Brokerage Services, Inc., is a registered broker/dealer in all fifty states of the United States of America. The Representative may also be a credit union employee that accepts deposits on behalf of the financial institution.