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 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.