Save So They Can Dream
December 11, 2017
Posted By: Shaunescy
As parents, we all want two things for our children – happiness and success. And while you can’t buy either, you can start saving for one.
Our children dream of being astronauts and nurses. Teachers and firefighters. They dream of attending schools like Harvard and Yale. Montana State University and the University of Montana. And though the cost of college may seem overwhelming, higher education can become a reality with the help of a 529 college savings account – one of the easiest and most affordable ways to save for your child’s future education.
Achieve Montana is a 529 college savings plan that offers several special advantages, including tax-deferred growth, generous contribution limits, and professional investment management. What does that mean for you? Money that grows faster and works harder.
For just $25, you can open an Achieve Montana account online today and begin investing. Once you open an account, contributions can be made for as low as $15 with payroll deduction. Anyone with a Social Security number can be a beneficiary and any number of people can act as contributors. Friends, aunts, uncles, grandparents – they all have the opportunity to make a difference in your child’s life.
Come high school graduation, the money in your Achieve Montana account can be used toward a number of qualifying higher education expenses, including tuition, laptops, printers, books, education-related software, and room and board. Better yet, nearly any public, private, two-year, or four-year college nationwide, including many trade and graduate schools, will accept the assets in your account.
What if your child decides to delay higher education or not go at all? No worries! You have several options: You can leave the money in the account in case your child starts college later; you can change the beneficiary of the account to another eligible family member; or you can withdraw the money from the account for other uses.* It’s really a win-win!
With the end of the year near and tax season looming, now is the perfect time to begin saving. Regardless of where you live (in the U.S.), all earnings in an Achieve Montana account grow tax deferred and are free from federal taxes when used for qualified higher education expenses. And if you are a Montanan, you’re in luck — there may be even more benefits* for you!
To learn more and open an account today, visit AchieveMontana.com.
Amy Berry of Helena is the Pensions and Education Savings Administrator for the Montana University System. Achieve Montana is sponsored by the State of Montana and administered by the Montana Board of Regents of Higher Education, as sole trustee of the Montana Family Education Savings Trust.
For more information about Achieve Montana, call 877.486.9271 or download an Enrollment Kit. The Enrollment Kit includes a Program Description that discusses investment objectives, risks, charges, expenses, and other important information; read and consider it carefully before investing.
*Earnings on non-qualified withdrawals may be subject to federal income tax and a 10% federal penalty tax, as well as state and local income taxes. Tax and other benefits are contingent on meeting other requirements and certain withdrawals are subject to federal, state, and local taxes.