As the end of May approaches, many people think about Memorial Day, summer vacations, and a break from school. However, the end of the month also signifies an important date in education planning: 529 Day.
Recognized on May 29, 529 Day represents 529 plans. Named for Section 529 of the Internal Revenue Code, a 529 Plan can help you save for your children’s education while offering potential tax savings.
“The best part about the 529 plan is it’s going to grow tax free. Then when you withdraw it, it’s going to be federally tax free — and if you’re in the Alabama plan, it’s going to be state tax free too,” said Kassouf Wealth Advisors Principal Michelle Pike, CFP®, AEP®.
Learn more about 529 plans and education planning via this episode of the Kassouf Podcast Network. Discover Kassouf Wealth Advisors’ education planning services here.