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College Savings Strategies: Using the 529 Account for YourChild’s Future

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College Savings Strategies: Using the 529 Account for YourChild’s Future

The cost of college keeps rising, making it crucial to start planning early for your child'seducation. One of the most powerful tools in your financial tool box is the 529 college savingsplan. At Generations Planning Group, LLC, we want to empower you to use this valuableresource. This is also a powerful way for grandparents and other loving relatives and friends tocontribute toward a young person’s education. What is a 529 Plan? A 529 plan is a tax-advantaged investment account specifically designed for college savings.Contributions typically grow tax-free, and qualified withdrawals for educational expenses are notsubject to federal income tax. Many [...]

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