Reach Me Here: KT Thomas

In this episode, KT and Tammy discuss:

Misinformation about 529 plansWho's best suited for a 529 plan?The downsides to doing this planWhat Tammy recommends 

Key Takeaways:

You don't pay on the interest earnedAs long as you use it for college, it's completely tax freeIf you don't use the funds for education, there's a 10% penalty (which is completely taxable)Ask yourself, "what are your long term financial goals?" Does a 529 plan fit those needs? 

"529 Plans are great vehicles for people to save for their child's education, their grandchild's or even their own." - Tammy Simmons, CFP

Connect with Tammy Simmons, CFP:

Website: www.newdaysolutions.com

Email: [email protected]

Phone: 800-834-2101

Learn more about your ad choices. Visit megaphone.fm/adchoices