College Savings Plans
Parents today are constantly worried about preparing for their children’s collegiate education. A 529 Plan is a college savings tool that allows individuals to invest in a tax advantaged plan for the purpose of funding college expenses. This plan is administered by the state, and the state usually contracts with an investment management firm as program manager which provides a variety of investment choices. You invest in the portfolio(s) of your choice that may be appropriate for your risk tolerance and investing time horizon. Additionally, there may be tax benefits for the donor as a result of funding a College Savings Plan.