Near the top of the list?
Invest in their sons future.
The task proved daunting.
On top of sleepless nights, you might imagine planning for a new childs education can easily become exhausting.
No Interest Til Almost 2027?
This doesnt take inflation into account, andstill.Lifes going to be expensive 18 years from now.
Like Scott alluded to, there are several well, alotof ways to jumpstart your childs future.
The Perrys could use the money for another immediate family member.
They could also withdraw the money from the 529 plan and pay a 10% penalty.
How to Sign up for a 529 College Savings Plan
Whew.
Theres a lot to weigh when it comes to establishing your kids education fund.
But say youve decided a 529 savings plan is your best bet.
Now youve got more research to do to figure outwhich529 plan is a good fit.
But we know you dont want to get into that.Wedont even want to get into it.
Instead, you could tap intoCollegeBacker, a robo-adviser that specializes in 529 plans.
Additionally, you’re free to open an account in about five minutes with no minimum deposit.
To get started, youll calculate your savings goal.
Enter the age of your child and what punch in of university youre saving for.
Then CollegeBacker will show you how much it’s crucial that you save each month.
Youre welcome to adjust this number (or pause withdrawals) based on your budget at any time.
Continue through to create a profile and build your team of contributors.
They can even use the money from the 529 plan toward a computer.
You were super smart andstarted saving early!
Carson Kohler ([email protected]) is a staff writer at The Penny Hoarder.
It sounds appealing right?
Check it out here!
