Phone Number: 763-639-0868

Monday, November 18, 2019

529 College Plan

A college savings plan is a type of qualified tuition program established under Section 529 of the Internal Revenue Code.  College savings plans are established by states and typically managed by an experienced financial institution designated by the state.

A college savings plan lets you save money for a child's college or graduate school education in an individual investment account.  Although the details of college savings plans vary by state, the basics include the ability to offer tax deferred growth.  Also, withdrawals used for the beneficiary's qualified education expenses are income tax free at the federal level.

american funds


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Advisory Services offered through Investment Advisors, a division of ProEquities, Inc., a Registered Investment Advisor. Securities offered through ProEquities, Inc., a Registered Broker/Dealer, and member FINRA and SIPC.  Conneran Financial is Independent of ProEquities, Inc.

Please be advised that presently Thomas Conneran holds series 6, 7, 63 and 65 licenses in CA, CT, DC, MD, MN, MT, ND, TX, VA, and WI. For residents of other states in which registration is not held, proper licenses and registrations must be obtained by representatives before proceeding further. No part of this communication should be construed as an offer to sell any security or provide investment advice or recommendation. Securities offered through ProEquities, Inc. will fluctuate in value and are subject to investment risks including possible loss of principal.