| “It’s
a 401(k) for kids.”
 Did
you know that parents will have to pay $260,000
by the year 2020 to send their kids to a four
year private college!
It's hard to think of saving
for college when little ones are small. But
soon enough your child will be researching
colleges. To lessen the financial burden of
saving for college, start investing in a good
college savings plan now. The earlier you
start the better!
The New Parents Guide is
committed to helping families plan financially
for the future of their children, especially
when it comes to education. Since the Total
Cost of Attendance for education, especially
college, has risen so drastically, financial
planning and informed investment strategy
are critical. Through a partnership with 401kid,
the creator of the first web-based college
savings software, The New Parents Guide brings
its investor members a wealth of information
and solutions for education financial planning.
The New Parents Guide
wants to help parents plan
successfully for college savings. Rich
or poor, if you have kids, you need
an Education Savings Plan. Since less
than 2% of college bound students obtain
scholarships, saving for college is
critical. Through a partnership with
401kid.com,
The New Parents Guide brings a trusted
source of education financial planning
to families.
If you haven’t
already heard, saving with 529 plans
is the best way to save for college.
529 Plan investments grow 100% federally
tax-free and sometimes state tax-free,
amounting to significant tax savings.
Also, state tax deductions, which are
currently available to residents of
almost 30 states, offer further savings
potential.
529 college savings
plans are more attractive than other
forms of college savings, including
UGMA/UTMAs, Coverdell Education Savings
Accounts, Series EE and I Bonds, or
mutual funds. Funds from 529 plans can
be used at any accredited university
in the country while parents maintain
control of funds until their children
go to college. While families have already
put away over $25 billion in 529 plans,
401kid analysts estimate that 529 investments
will exceed $175 billion by 2010.
401kid shows you how
to evaluate 529 plan providers such
as Fidelity, Strong Capital and Upromise
and college loan providers such as Sallie
Mae while maximizing financial aid for
one or multiple students.
Click
here to see which 529 plan is best for
your family
Click
here to learn more about your state 529 plan
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