What to Do if You Have an Overfunded 529 Plan

What to Do if You Have an Overfunded 529 Plan

With outstanding student loans now exceeding one trillion dollars, there’s a big emphasis on what can be done to relieve families of the burden of student loan debt. However, some families face another problem – they saved too much money in a 529 college...
529 Plan vs. Roth IRA: Which is Better for College Savings?

529 Plan vs. Roth IRA: Which is Better for College Savings?

Outstanding student loan debt in the U.S. now tops $1.5 trillion. Yes, that’s trillion with a T. This has led to a national debate about what can be done to help college students and their families manage their student loan debt burdens. Of course, the best...
How to Save for Your Child’s Education…And Your Retirement

How to Save for Your Child’s Education…And Your Retirement

Planning and saving for retirement and your children’s education are common financial goals. They are also two of the biggest challenges for families today. How do you plan for an unknown future that requires so much upfront planning? And how do you balance...
When Does a 529 Plan Make Sense for College Planning?

When Does a 529 Plan Make Sense for College Planning?

Since they were first established in 1996, Section 529 savings plans have become a popular tool used by parents to save for future college expenses. One reason 529 plans are so popular is the tax breaks they allow. As long as funds are used to pay for...
How to Pay for Your Child’s College Education

How to Pay for Your Child’s College Education

Saving for your child’s college education can seem like a daunting task. Unlike with retirement savings, few clear guidelines exist. College costs vary widely depending on where your child goes to school and whether they qualify for financial aid. So, how...
When to Start Saving for Your Child’s College Education

When to Start Saving for Your Child’s College Education

Saving for a child’s future education costs is a high priority for many families. With college costs continuing to increase, creating an education savings plan can be complex and challenging. After prioritizing your financial goals and ensuring you are on...
CASE STUDY: Funding College While Saving for Retirement

CASE STUDY: Funding College While Saving for Retirement

The Situation Sam and Bailey are married with three young children. The couple, who are both doctors in their mid-30s, live in Colorado which is one of the handful of states that offers a generous unlimited state income tax deduction for 529 contributions....
Three Options When You Have Excess 529 Funds

Three Options When You Have Excess 529 Funds

Paying for your child’s education is one of the largest financial mountains your family will have to climb, but opening a college savings account is a great starting point. One of the most common and popular savings vehicles is the 529 plan. In fact, of...
When Does a 529 Make Sense?

When Does a 529 Make Sense?

You went to Northwestern. Your partner went to Northwestern. Now, baby number one is here and they’re already geared up in a purple-and-white onesie. It’s a safe bet that baby number one will probably apply to Northwestern. As stated previously, there are...