Where are the 529 plans?QA I am the 30-year-old father of an 11-year-old daughter and I haven't started saving for her college education yet. I've heard of 529 plans, but where can I go to get more information about them? --D. Singleton sin·gle·ton n. An offspring born alone. singleton Medtalk One baby. Cf Triplet, Twin. New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of It's not too late to begin putting money away for your daughter's education, and a 529 plan is a good place to start. All 50 states now offer these state-sponsored college savings plans, which give you the ability to invest money in a pre-selected portfolio of stocks and bonds to put toward future educational expenses. The money saved can be used at any institution of higher learning higher learning n. Education or academic accomplishment at the college or university level. for any expenses, including books and room and board. You can invest in any of the 50 plans, as each state has different investment options and terms. The plans provide tax-free savings on the interest earned as long as the money is used for education; some even offer a tax deduction Tax deduction An expense that a taxpayer is allowed to deduct from taxable income. tax deduction See deduction. for state residents. To get the best deal, make sure you avoid plans that charge high fees and be sure that the choices within the plan you choose are investments you would feel comfortable with outside the plan. To find out more about 529 plans, go to www.savingforcollege.com, www.independent 529plan.org, www.morningstar.com/centers/ 529.html, or www.bankrate.com. You can also link your 529 plan to Upromise (www.upromise .com), which will rebate rebate, partial refund of the total price paid for goods or services. In the United States, rebates were historically given by railroads to favored shippers as a return on transportation charges. a percentage of your purchases with selected companies into your account. --Matthew S. Scott Mail your money management questions to Ask B.E., BLACK ENTERPRISE, 130 Fifth Ave AVE Avenue AVE Average AVE Alta Velocidad Espanola (train between Madrid and Seville) AVE Alta Velocidad Española (Spanish: High Speed Train) AVE Audio Video Entertainment AVE Advertising Value Equivalent ., New York, NY 10011, or send an e-mail to scottm@blackenterprise.com. |
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