Episode 19 - How do 529 plans work?

A lot of our clients ask about Virginia529 plans. What are the tax advantages? How do I open an account? Which funds should I use?

This week, Mary Morris, CEO of Virginia529 joins the EVOfi team to discuss 529 college savings plans. We go over frequently asked questions like:

  • What if I don’t use all the money in my child’s 529 plan?
  • What are the tax advantages to a 529 college savings plan?
  • Let’s say I move states. What happens to my 529 plan?
  • What’s the difference between a Prepaid and InVest plan?
  • How can I use a 529 Plan to pay for private school?
  • What are “stackable credentials”?

College savings accounts can be confusing. We get it… which is why we are so lucky to have Mary as our special guest. This is a fun episode and we hope you’ll leave with a key takeaway that you can use in your personal life. Share this with parents, grandparents, aunts and uncles, or anyone you know considering funding an account for your loved one. Whether it’s a road trip or commute to work we hope you listen along and let us know what you think!

Listen on iTunesSpotify, and Podbean. Shoot us an email with your thoughts!