partlogo
partlogo

College Savings Plans: Why You Need One

GROW YOUR WEALTH, PROTECT YOUR FAMILY’S FUTURE

Your child’s college tuition may be one of your life’s biggest expenses. With tuition prices going up every year, it is essential that you start developing a college savings plan as soon as possible. One of the best ways to save for education expenses is to open a 529 college savings plan. This is a state-sponsored savings vehicle, which allows for tax-free growth and tax-free distributions on qualified expenses like tuition and fees. Noble Wealth Management helps families in the Richland, WA area create personalized savings strategies which may include investing in a 529 plan. We assess your unique financial situation and goals in order to create a plan that makes sense for you and your family.

You may invest in any state’s 529 program, not just your own. Here in Washington, the GET program guarantees that the value of your account will keep pace with the cost of college tuition, no matter how much or how quickly it rises. The earlier you invest, the greater opportunity you have to grow your college savings. When compared to many other savings vehicles, 529 college savings plans offer the greatest tax advantages.

Are you interested in exploring your options and potentially setting up a 529 plan for your child? Contact Noble Wealth Management today in order to get in touch with a qualified professional. With more than 30 years of experience in the financial planning industry, we understand how these plans may or may not fit in with your long term financial plan. We find that for many clients, 529 plans prove to be beneficial. Give our office a call at (509) 735-9000 to schedule a free consultation with an experienced advisor. You can also fill out our online contact form so that we can reach out to you as soon as possible.

Saving for College Is Now More Important Than Ever

College tuition and fees are still on the rise, with no sign of slowing down. By investing in a 529 college savings plan today, you can create a hedge against those rising costs in order to provide your child with an affordable education. These plans work similarly to a Roth account. They invest your after-tax contributions into stock and bond mutual funds and other similar investments. Most plans offer several options for the investor to choose from based on their risk tolerance, investment horizon, and growth goals. The money in the 529 plan will go up or down based on the performance of the investments. At Noble Wealth Management, we can help you select investment options that match your unique needs and circumstances.

READ MORE

The Benefits of A 529 College Savings Plan

  • Contributions are not tax-deductible, however, the earnings made in a 529 college savings plan grow tax-free
  • You do not pay taxes on distributions from 529 accounts as long as they are used for qualified expenses (paying for college)
  • If you invest in another savings vehicle, such as a mutual fund, you will pay yearly income taxes as well as capital gains taxes when you withdraw
  • In most cases, your child or beneficiary can’t legally access the funds in the account, so you know it won’t get used for the wrong purposes
  • The account owner (you) can withdraw funds at any time, for any reason, however, you will incur taxes when withdrawals are non-qualified (not for college tuition)
READ MORE

Get The Best College Savings Plans, Personalized For You!

Noble Wealth Management is based in Kennewick, WA. We assist families in the local area, including the following towns:

  • Pasco, WA
  • Richland, WA
  • Walla Walla, WA
  • Prosser, WA
  • Hermiston, OR

About

With 27 years of experience and the knowledge to help you with a variety of aspects of your financial future, Noble Wealth Management in Kennewick is home to the expert you need in your monetary corner. We work hard to provide you with the latest industry knowledge so you can rest easy knowing you’ve got the best advisor helping you make fiscally sound decisions.

Grow Your Wealth, Protect Your Family’s Future

Get the ongoing guidance and monitoring you need to stay on track to meet your financial goals;
call Noble Wealth Management today.

FINANCIAL DISCLAIMER:
The information contained on this website is presented for informational and marketing purposes only and is not to be understood as financial advice. You should consult with a representative from Noble Wealth Management for further information, the mere act of contacting Nobel Wealth Management does not create a client relationship. As a result, you should never send any confidential information to our office until representation or client relationship has been established.

© All rights reserved Sitemap Privacy Policy Terms of Use

Scroll to Top