529 College Funds in Louisiana

A 529 College Savings Plan is an education savings plan operated by a state or educational institution that can help you set aside funds for future college costs. Louisiana offers a 529 plan that can be used to meet the cost of qualified colleges both in-state and out-of-state.

The 529 Plan is named after Section 529 of the Internal Revenue Code which created these types of savings plans in 1996. This law provides special tax benefits including both federal and state benefits, simplified tax reporting and flexibility. You can maintain control over your own funds and the amount you can put into a 529 plan is substantial. In addition, there are no income limitations or age restrictions.

529 plans may be either prepaid or savings plans.

• Savings Plans work like a 401K or IRA. Your contributions are invested in mutual funds or other investments. Your account will go up or down in value based on the performance of the particular investments.

• Prepaid Plans allow you pre-pay all or part of the costs of an in-state public college education. They may also be converted for use at private and out-of-state colleges. The Independent 529 Plan is a separate prepaid plan for private colleges.

Stine financial can help you invest in a 529 plan and provide education security for members of your family or even make college a part of your retirement financial scenario.

There are additional fees associated with 529 savings plans. Investments in 529s involve investment risks. You should consider your financial needs, goals, and risk tolerance prior to investing. For more complete information about underlying fund investment objectives, risk, charges, limitations and expenses, please read the prospectus carefully before investing or sending money.

Let Stine Financial Group help you lay the foundation to live the life you want in retirement.