There’s no shortage of ways to use your tax refund, and we’re sure you have a few ideas already in mind, but have you considered investing in your child’s future?
It’s no secret that tuition is skyrocketing and it won’t be coming down anytime soon. When trying to save for a price that’s always on the rise, the best strategy is to start early to give your funds more time to grow. Don’t think your refund is enough to jump-start your college funding? Think again! Every little bit counts when it comes to college savings. And a Florida 529 Savings Plan may be just the way for your family to start saving for college now!
529 Savings Plans are subject to market fluctuations, but they’re also completely under your control. With A 529 Savings Plan feel free to be as aggressive or conservative, hands on or hands off as you’d like. You can set your own savings goals, choose when and how often you’d like to save, and decide what qualified educational expense to spend it on when you’re ready.
And what’s great about a 529 Savings Plan is they’re tax-free when used on those qualified educational expenses, like tuition, fees, books and room and board — so all the money you earn throughout the years is yours to keep.
So this year at tax time take control of your college savings and put your refund into a Florida 529 Savings Plan. That way, when the time comes for your little one to move on to college you’ll have peace of mind knowing you have something set aside.
