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77042 529 College Fund

If you want to open a 77042 529 College Fund, contact Potter Financial. We’re a financial planning and advisory firm that helps families achieve their financial goals. When it comes to planning for your child’s future, their college education is a common concern. Specifically, parents wonder how they’re going to afford to pay for tuition. There are many ways to go about footing the college bill, but many of these options are more trouble than they’re worth. However, with an education savings plan, you can make those future expenses easier to manage.

77042 529 College Fund

77042 529 College Fund

Why You Need a 77042 529 College Fund

To be fair, you don’t need a 529 College Fund. However, it does make paying for your child’s education much easier. There are many benefits to having this type of account, especially as far as education is concerned. On top of that, the benefits of enlisting the help of a local company to help you manage this account are tremendous. Internet-based firms and multi-branch companies lack the personal touch. Aside from the general advice that applies to just about any portfolio, how can these firms help you save and earn more money? Can they help you maximize your savings, and as a result, your investments? Chances are, these firms won’t help you at all. In fact, many of them won’t even offer to. On the other hand, Potter Financial offers personalized financial planning services. We make sure that your portfolio matches your goals, your interests, and your risk tolerance.

Once you’ve decided to ask a local firm, such as Potter Financial, for assistance, those financial advisors can direct you towards the best educational savings accounts. A 529 College Savings Plan is a great option for most families. You have unlimited tax-free withdrawals on qualified higher education expenses. For example, the money you save today can be used to pay for your child’s tuition and fees, room and board, and other expenses. Another great thing about this type of account is that you can actually use the money for nearly all educational institutions, not just colleges and universities!

However, there are other investment savings accounts available besides the 529 Plan. You can opt to open a UTMA/UGMA, or even a standard investment account. In any case, the financial planners at Potter Financial will discuss the best options for your family.

Save for college

Invest in your family’s future

How To Decide

A 529 College Fund is a great investment savings option that most states offer. However, each family is unique and may need something different. Things that we like to take into consideration include:

  • Your child’s age
  • How much you have been saving for college or plan to
  • Your child’s current financial aid eligibility

If we determine that the 529 Savings Plan account is best for you and your child, we’ll help you open and manage it as well.

Saving for Your Child’s Future

A 529 College Fund is an investment account. As such, the best use of this account would be to invest the money in marketable securities. With Potter Financial, you have the option to invest in a variety of different securities. In fact, we provide access to funds and stocks that you may not otherwise have access to. We trade portfolios built by the likes of American Funds, Franklin Templeton, and much more. Furthermore, we can give you advice regarding which stocks to invest in. For many families, we recommend mutual funds.

What are Mutual Funds?

Mutual funds are a managed portfolio of securities. Any single mutual fund could contain any variety of assets and even some short-term debts. The mutual fund is managed by a fund manager who tracks the performance of the fund. While the fund manager may change the holdings of a portfolio, the person who invests in the fund doesn’t really have any control over those individual securities. However, that type of control isn’t necessary—any experienced fund manager is more than capable of managing their own fund, for your benefit.

Financial Planning

Smart Financial Planning

By investing in mutual funds, you rely on someone else’s knowledge and experience in order to build your own returns. When you combine your mutual fund managers with the accounting oversight afforded to you by Potter Financial, your account will be well-managed. You’ll have several pairs of eyes on your investments. This frees up your mind and time to focus on other things.

Paying For Your Child’s Education

When it’s time for your child to apply to public or private colleges, you want to be prepared. While a 529 College Fund may or may not cover 100% of their expenses, every dollar counts. However, the 529 College Fund isn’t entirely restrictive. As long as you’re spending money on your child’s education, you can use the money as you need it. That being said, a wise decision is to save as much money as possible. If you can, avoid making the college fund the primary source of their school expenses, especially early in life. Your investment returns will could possibly be much higher the longer you hold the money in the account.

When Potter Financial’s account managers oversee your account, we can help you make those distinctions. It can be hard to identify the true difference between wants and needs when it comes to finances and savings.

That’s not to say that you’ll lose total control over your finances. But it’s no secret that many investors don’t make the most out of their investments. And it’s not because of a lack of capital. Rather, these would-be money-savers find any excuse to prematurely drop out of the market and take their earning potential with them. Even if you’ve had a good experience with investing on your own before, it never hurts to have an experienced professional on your side. Potter Financial is here to guide you through the volatile world of investing.

Contact Us Today

If you are interested in learning more about how we can help you, don’t hesitate to reach out to us. Take the first step in the right direction by visiting our website here or calling (713) 972-1316. Contact Potter Financial today to set up your child’s 77042 529 College Fund!

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