Plan for Your Child’s Brighter Future
College Planning
It is never too early to start thinking about your child’s college education.
At Upstate Wealth Consulting our team will navigate which the college savings plan is right for you, making college a smooth, financial transition when the time comes.
529 college savings plans: These plans grow tax deferred, and some plans allow for tax-free fund withdrawal, as long as the money is used for qualified higher education expenses. Unlike other plans, 529 plans can allow for sizeable contributions.
Non-qualified investment accounts: Distributions can be taken without penalty, even if the monies are used for something other than education. These accounts can be used to start a business, as a down-payment on a home, for a wedding, or as a jump-start toward retirement.
UGMA/UTMA: These accounts are similar to non-qualified investment accounts, but the income generated from the investments is taxed to the minor.
Planning for Tomorrow Begins Today
Our dedicated wealth management advisors are committed to help ensure you with the utmost confidence that your money, assets, and estates are appropriately invested to benefit you and your loved ones.