We can help you pick the right saving vehicle, plan, investments, amounts… and get you the peace of mind you need, about your child’s future. We can help you make sense of it all, get on track, and stay there. We charge $300 for a 2 session, College Savings Strategy.
Often, that starts with an 529 Plan. Even a small variable, like a state tax deduction, can have big differences in outcomes.
|State||State Tax Deduction||Over 18 years|
|Estimated Tax Savings for a couple, MFJ with $100,000 in taxable income; contributing $100 a month to 2 children separate 549 plans.|
|Missouri as a Tax-Parity state offers income tax benefits regardless of whether the 529 plan was in-state.|
The Price of Procrastinating… 4 years of college beginning in 18 years could cost you a total of $215,064. If you start saving immediately, you will need to make monthly contributions of $464 in order to meet this cost. The monthly contribution jumps $41 by holding off just one year before you start saving. If you wait 9 years, you will need to contribute a total of $42,544 more to make up for lower accumulated earnings. *From savingforcollege.com