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It's Almost 529 Day!

College Funding Families

It’s almost May 29, a day to celebrate college savings in 529 Plans and to make progress toward college funding goals! We frequently recommend 529 Plans for families saving for college, and this month, many state 529 Plans are running promotions to encourage college savings. We wanted to spread the word to give parents time to participate.

The 529 Day prizes vary from state to state. Some states are contributing money to 529 Plans for babies born May 29, while others have sweepstakes or community events. The prize money can be significant!

We have bolded the states offering 529 Day promotions or other saving incentives. For those states without a specific 529 Day promotion, we have linked to the 529 Plan website.

Is Your State Participating?

Alabama, Alaska, Arizona, Arkansas, California, Colorado, Connecticut, Delaware, District of Columbia, Florida, Georgia, Hawaii, Idaho, Illinois, Indiana, Iowa, Kansas, Kentucky, Louisiana, Maine, Maryland, Massachusetts, Michigan, Minnesota, Mississippi, Missouri, Montana, Nebraska, Nevada, New Hampshire, New Jersey, New Mexico, New York, North Carolina, North Dakota, Ohio, Oklahoma, Oregon, Pennsylvania, Rhode Island, South Carolina, South Dakota, Tennessee, Texas, Utah, Vermont, Virginia, Washington(529 Plan not yet active), West Virginia, Wisconsin, Wyoming (no 529 Plan)

Multi-State Opportunities

AARP Grandbaby Sweepstakes: $529 monthly giveaway available if you have one of the following states’ 529 plans: California, Connecticut, Georgia, Kentucky Michigan, Minnesota, Oklahoma, or Wisconsin.

Fidelity Cashback 529 Card: get 2% back on purchases to any Fidelity-managed 529 Plan (Arizona, Delaware, Massachusetts, or New Hampshire)

Remember that you do not have to be a resident to participate in a state’s 529 Plan. If your own state does not offer a tax deduction for 529 Plan contributions, or has high fees, we recommend selecting a high-rated plan from anywhere in the country. Savingforcollege.com has a good comparison tool if you would like to research features of various state plans.

How Can You Celebrate 529 Day?

  • Set up a 529 Plan for your child, grandchild or other loved one
  • Make a 529 Plan contribution to an existing account
  • Forward this email to a friend who should know about 529 Plans

Why Use 529 Plans?

  • Tax free investment growth
  • Tax free distributions for qualified educational expenses
  • Certain states offer a tax deduction
  • Available to investors of all income levels
  • Low impact on financial aid
  • Can invest in any state 529 Plan, regardless of residency
  • 529 accounts are removed from your taxable estate, yet you retain full control over the account including the right to take the money back or transfer to a different beneficiary


Halpern Financial College Projections reports provide a roadmap to achieve your college funding goals from the first dollar saved to graduation day. The path to your college funding goals should benefit from efficiencies at all levels: low-cost investment options, maximizing tax savings, optimal allocations for your child’s age, and a customized distribution strategy. Halpern Financial can assist with college planning in light of your own financial situation.

 

 

 

 

IMPORTANT DISCLOSURE INFORMATION

Please remember that past performance may not be indicative of future results. Different types of investments involve varying degrees of risk, and there can be no assurance that the future performance of any specific investment, investment strategy, or product (including the investments and/or investment strategies recommended or undertaken by Halpern Financial, Inc.), or any non-investment related content, made reference to directly or indirectly in this blog will be profitable, equal any corresponding indicated historical performance level(s), be suitable for your portfolio or individual situation, or prove successful. Due to various factors, including changing market conditions and/or applicable laws, the content may no longer be reflective of current opinions or positions. Moreover, you should not assume that any discussion or information contained in this blog serves as the receipt of, or as a substitute for, personalized investment advice from Halpern Financial, Inc.. To the extent that a reader has any questions regarding the applicability of any specific issue discussed above to his/her individual situation, he/she is encouraged to consult with the professional advisor of his/her choosing. Halpern Financial, Inc. is neither a law firm nor a certified public accounting firm and no portion of the blog content should be construed as legal or accounting advice. A copy of the Halpern Financial, Inc.’s current written disclosure statement discussing our advisory services and fees is available for review upon request.



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