But why should we celebrate anything the IRS has to offer? Well, it’s because these plans are so great, they definitely need their own holiday. Don’t believe us? Let us count the ways:
- Control. You can’t control everything in life, but your savings is something you should be able to control, and with a 529 savings plan you can! Choose who, how much, when, where and why you want to save! It’s all up to you!
- Tax-FREE! There’s no such thing as a free lunch, but there is such thing as tax-free savings: it’s called a 529 savings plan. When you choose to invest you won’t have to worry about paying taxes on your earnings, because they’re all tax-free when used for qualified educational expenses. So keep all the money you’ve made – you earned it.
- Low Maintenance. You want a plan that’ll grow on its own without you needing to check it? You found it! 529 plans are great because, while you can have as much control as you want, if you want to pick your investment option and just let your funds grow on their own you can absolutely do that (because it’s totally under your control, remember?).
Still not sure 529 savings plans need their own holiday?
Well, if you haven’t already heard, the Florida Prepaid College Board is celebrating with our own Florida 529 Sweepstakes where ten lucky winners will win a $529 Scholarship! And if an extra $529 for your college savings isn’t a good reason to party we honestly have no idea what is.
Oh, but we’re not stopping there! Everyone who signs up for a Florida 529 Savings Plan in the month of May will receive a College Savings Kit, complete with fun tools and gifts to help you navigate the world of college savings.
And make sure to check out our Florida 529 Savings Plan! We’re sure you’ll see it’s something to party about.