Education Planning












529 College Saving Plan

Your family keeps you busy and its easy to put off many things, saving for college should not be one of them. We know the feeling, you're always on the go, running from here to there and your responsibilities never end and after all college seems a long way off right? So why should I set up an account now?

An investment in a college education is the most important investment you can make in your childs future. College graduates earn an average of 79% more than highschool graduates and over a lifetime and that difference can amount to more than one million dollars ($1mm), people with advanced degrees get paid even more, this is clear evidence of the lifetime value of education.

A child born today could need as much as $255,000 to attend a 4 year public school or $400,000 for a private college. How much will this cost  if you invest monthly, estimating a 7% average rate of return with the tax deferred growth of your investment? The figures below are for a state college*:

            Child's Age              Monthly Cost

  • 2 years old                      $647
  • 5 years old                      $739
  • 10 years old                    $1,053
  • 15 Years old                   $2,441


There are many other benefits of a 529 plan including some estate planning reasons for selecting such plans, we have highlighted some of these below:

  • Contributions are eligible for Gift Tax Exclusion, owners and grandparents can also take advantage of the 5 year forward gifting rules.
  • Low account opening balance needed
  • Assets grow federal tax free
  • Withdrawals can pay for any higher education expense including tuition, mandatory fees, books, supplys, computers or other required equipment plus room and board
  • Ability to change beneficiaries - can be changed to a member of the immediate family, sibilings, grandchildren, neices, nephews, cousins and more
  • Flexible contributions for as little as $50 per account or maximum of $300,000 (sometimes more) per beneficiary over the life of the account
  • Monthly automatic investment plans are easily activated making contributions a snap


We look forward to working with your family to set up a 529 college plan with or without automatic funding so you can efficiently work toward funding the future expense of a college education for those most precious to you. Give the gift of education to your family as it will be appreciated for a lifetime.




*examples for illustrative purposes and not representative of any particular investment. The table does not take into account investment expenses. All investments involve risk and do not guarantee a specific rate of return you may have gain or loss on amounts invested.

Before investing, the investor should consider whether the investor’s or beneficiary’s home state offers any state tax or other benefits available only from that state’s 529 Plan.