SMART 529 .. The Way to Higher Education

So I know most of our followers have children so I want to give you an important tip that will save you lots of money in the future....start saving for your children's education through a 529 Plan.  Luckily I have a experience in investing or I would have never known a 529 was the way to invest for my girls' education.  Once a child has a ssn you can open a 529 plan.  A 529 plan allows you to invest your after tax money into an account that grows tax free.  This money can be used for anything related to your child's education and if you happen to have money left over you can transfer to another child or relative.  My husband and I decided to start these plans as soon as the girls had their ssns so that there was more time for the money to grow.  We have been very successful with our plans and they have been growing much more than any other investment we have.   We get report cards every 6 months letting us know how much the accounts are worth and what the expected value of the account will be once the girls are 18; this allows us to know exactly if we are on track for the rising costs of higher education.  On top of the tax saving of the account for investment growth I learned when doing taxes this year that contributing to a 529 also helped us on our state taxes, which was an added plus.   I highly suggest you all check out http://www.smart529select.com and/or ask an investment advisor for more information.

Happy Saving!