529 plan is considered to be one of the most flexible gifts people can give their loved ones.
LOS ANGELES (PRWEB) December 01, 2018
The holidays is fast approaching and a lot of people are trying to look for the best gift for their loved ones that is why National Debt Relief explains how a 529 plan can be a great choice. The article titled “529 Plans – The Gift That Keeps On Giving For A Lifetime” released November 26, 2018, explains how a college fund is an ideal choice.
The article starts off by pointing out that a lot of people are starting to go out and spend hours trying to shop for the perfect gift for their loved ones. This is where a 529 plan comes in as an alternative gift especially for children and even grandchildren. It can be timely especially as college tuition is becoming more expensive for students.
The article explains what a 529 Savings Plan is all about for people to understand it better. The name was derived from Section 529 of the Internal Revenue Code, which authorized the plans after it was added in 1997. It is basically a tax-advantaged savings plan designed to encourage saving for future education costs. 529 plans.
The article shares that this is also referred to as qualified tuition plans and is divided into two basic types - a prepaid tuition plan and an education savings plan. The former allows consumers to purchase some form of tuition credit at participating schools and colleges. An education savings plan, on the other hand, is an investment account that enables the account holder to save for future school costs.
The article explains that a 529 plan is considered to be one of the most flexible gifts people can give their loved ones. For one, the money can be used for any child or grandchild in their family and at any university or college in the state of their choice. It will also help students cover other approved costs like books and even room and board.
To read the full article, click https://www.nationaldebtrelief.com/529-plans/