Happy 529 Day!

529 #2Dear Mr. Market:

Today is the last day in May and although you’re still positive for the month you look like you’re limping home. School is wrapping up for the year so perhaps you have a bad case of “senioritis” or “summer fever”.  Are you getting tired Mr. Market? It sure looks like it. Speaking of being a student, today also is May 29th, and it marks the sixth annual national 529 Day. With that being said, let’s review why a student needs you (the market and a good platform) to ultimately get to their “finish line”.

Whether you are a parent or grandparent it’s likely been a long time since you’ve been in college. Even if you stay close to the numbers of what it costs to send a child to college, you’re likely to be blown away when it actually comes time to write that first tuition check. For the 2014-2015 academic year the College Board surveys reported that in-state college budgets averaged $23,410/year and private college averaged $46,272. Before we go into how you’re going to help pay for these types of college costs let us share with you the two reasons you should NOT use a 529 College Savings Plan. Continue reading