![]() ![]() Or you can withdraw your money for any reason and pay taxes and a 10% penalty on the earnings (but not on the contributions).3 Account control However, you can use the money at a wide range of schools or transfer the account to a different beneficiary if you don't end up needing the money. ![]() These accounts are meant to be used for college. 529 plans are the only plans to offer these all-in-one investment options that are automatically rebalanced and managed for you over time. Age-based options-designed for higher education You can withdraw your money for any reason at any time, although you may pay taxes and a 10% penalty on the earnings portion of your withdrawal if you're not using the money for college. 529 plans offer a variety of investment portfolios to choose from, some of which are growth-oriented. You can contribute up to $75,000 ($150,000 if married and filing jointly) in a single year for each beneficiary without incurring gift taxes, as long as you don’t make any other financial gifts to that beneficiary for five years. The lifetime contribution limit per beneficiary is between $200,000 and $400,000, depending on the specific plan. However, if the account is owned by a student who is not claimed as a dependent or if the account is owned by someone else (grandparent, family friend, etc.), it could have a larger impact. Only about 5% of the money in these accounts is counted against federal financial aid, even if the student is also the account owner. Low impact on financial aid for higher education Earnings grow tax-deferred, and there's no federal tax on withdrawals used to pay for qualified education expenses. Depending on your state, contributions are often tax-deductible, and earnings grow tax-deferred.1 (Note that some states offer a tax credit instead of a tax deduction.) Withdrawals are tax-free when used for qualified higher-education expenses.2 Federal tax breaks Invested in a Wealthfront 529 Plan account.A savings plan sponsored by a state but generally open to anyone who wants to save for college. Start with only $500 initial contribution.Īre no advisory fees for Nevada residents on the first $25,000 of assets ![]() Risk and return is optimized over time based on your individual criteria. Personalized investment plan designed specifically for college savings. Your 529 account is managed using an automated and Wealthfront 529 Plan provides unique approach to saving for your children’sĬollege education. For information on a former Columbia 529 College Savings Plan, please contact Putnam Investments 1-877-PUTNAM529. For more information, talk to your financial advisor, call 1-877-PUTNAM529 or visit NOTE: The Columbia 529 Plan was converted to Putnam Investments on March 4, 2011. The plan has no annual maintenance fee and is backed by Putnam’s more than 70 years of investing experience. Putnam 529 for AmericaSM offers all the tax advantages of a 529 plan plus a wide array of investment choices, including age-based portfolios, and individual fund options from Putnam and other prominent companies. Find out more at /matchinggrant or call 1-80. USAA will match your USAA 529 College Savings Plan contributions up to $300 per year for five years per child (lifetime max of $1,500). Nevada residents who are active duty military may qualify for the Distinguished Valor Matching Grant Program. Start with only $250 or $50 when you establish an automatic monthly investment of $50. A Preservation of Capital option is also available to help protect your investment from market volatility. Choose between six Fixed Allocation options or an Age-Based option that automatically moves balances into more conservative investments as your child gets older to minimize risk. The USAA 529 College Savings Plan offers flexible options, high contribution limits, tax-deferred savings and superior ratings for customer service. ![]() Rather than the normal $3,000 minimum investment, Nevada residents can invest starting with only $1,000. The "Gold" ranking is bestowed on only four of the total of sixty-four 529 plans ranked.* The Plan was recently ranked "Gold" by Morningstar. The Vanguard® 529 College Savings Plan gives you access to 22 Vanguard investments, high contribution limits, among the lowest fees in the industry, and tax-free withdrawals to pay for qualified higher education expenses. Nevada residents benefit from waiver of the annual account fee and can qualify for matching contributions through the Silver State Matching Grant Program. The Plan offers professional investment management from State Street Global Advisors with varying low cost fund options to suit your investment goals. Start saving today with as little as $15 in the SSgA Upromise 529 Plan. ![]()
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