A college education is one of the greatest gifts you can give a child or grandchild. While it’s best to start saving at a young age, we can help parents of any age student develop a college planning strategy.
Understanding the many types of accounts used to save for college costs is very important. Coastal Wealth Management, available through CFS*, can help you evaluate which account is best for your situation.
We will evaluate:
- How much should you be saving to reach your college goal?
- What account(s) should you use to maximize your financial aid availability?
- What accounts offer the investments you want to use?
- What are the tax benefits of the different accounts?
There are numerous ways to save for college. Some options are tax-advantaged and offer design flexibility.
- 529 Plans
- Coverdell Education Savings Accounts
- Custodial Accounts (Uniform Transfers to Minors Act – UTMA)
- Investment accounts owned by the parent/grandparent/guardian
- Cash Value Life Insurance
Use our college savings calculator to determine how much you should be saving for college on a regular basis.