College Planning

A college education for your child or grandchild is worth every cent.  It gives a child a greater opportunity to be what they dream about and can mean higher earnings over their lifetime.  We understand, however, how difficult it is to pay for it. 

One of the best solutions to this problem is a 529 college savings plan.

These plans were established to make saving for college a lot easier.  The Federal government has given these plans tax advantages so your money will grow faster, and when it comes time to take it out, there is no Federal taxes on qualified withdrawals.  And there are many other advantages of using a 529 plan, such as transferring money out of a taxable estate while still maintaining control and ownership over the money.

As you may know, there are many 529 plans to choose from.  Then, after you decide on a particular plan, you are faced with deciding how the money you put in the plan is invested.

So that's where we come in.  We know about the different ways to save for higher education and we have extensive knowledge on 529 planning. 

We start by asking the important questions and listen closely to your answers.  Only then do we advise you on the best plan for you.  Then comes the important part of making the right investment decisions within that plan.  Whether your timeframe is five or 15 years, we will help you decide what to do.

Below you will find answers for some of the most frequently asked questions we get:

What is the main advantage of a 529 plan?

Your savings can accumulate faster because there are no federal taxes on current earnings and no federal taxes on withdrawals for qualified educational expenses.

Do I need assistance in selecting a plan and making the best investment choices?

It depends on how much experience you have in this area.  To date, the vast majority of people have turned to financial advisors to help them with these decisions.

Can others make contributions as well?

Yes.  Anyone can contribute to the education of your child, and this is especially popular for grandparents that want to reduce the size of their taxable estate and desire to leave a legacy of education.

Can the money be used for any college?

Yes.  This is one of the big advantages over pre-paid college savings plans that restrict where the money can be used.

Now it's time for you to get started!    Call us at  561-394-4174 or email us at office@royalcapitalmanagement.com  to answer your questions or to request an enrollment kit.  With costs rising each year, starting early is important.