Results for "college savings"

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529 college savings plan tricks and traps

December 30, 2015

Section 529 college savings plans offer investors the great benefit of avoiding federal taxes on the growth of contributions (and some offer state tax incentives) as long as the assets are used to pay for eligible college expenses. But investors...

Is your 529 college plan one of the four with Morningstar gold?

October 20, 2015

Four college savings programs took home the gold from Morningstar Inc. in its latest review of 529 plans — the same four that ran away with the top rankings last year. The top spots went to Alaska's T. Rowe Price College Savings Plan, managed...

Adviser explains why and how to move to a retainer model

October 6, 2015

Scott Kahan concluded 13 years ago that the amount his financial advisory business charged clients shouldn't change based on market performance, which is what occurs when client fees are based on assets under management. The adviser, founder...

Advisers still aren't taking advantage of the opportunities, benefits 529s can provide clients

September 23, 2015

Advisers are likely familiar with the growth in popularity in 529 college savings plans. Nationally, 529 assets now exceed $235 billion. You may also be familiar with the reasons advisers cite for not introducing these plans to clients, such...

529 plans adding more conservative investment options

September 15, 2015

Hoping to stave off concern from college savers that 529 accounts are too vulnerable to stock market volatility and expected interest rate hikes, some plan managers are switching up the investment choices available to advisers and investors....

Obama executive order requires use of earlier tax returns on college aid forms

September 14, 2015

Families should be able to estimate sooner how much they'll need to come up with to send students to college under a change President Barack Obama announced Monday. The move will allow families to use income data from two years before the student...

T. Rowe's Ritter: Add value by helping clients with 3 major issues

September 10, 2015

Stuart Ritter, vice president of T. Rowe Price Investment Services, discusses three critical areas where advisers can step in and offer clients invaluable assistance.

Fears about rising college costs present an opportunity for advisers

September 6, 2015

The burgeoning cost of college isn't just a strain for low and middle-income families. Affluent Americans are wrestling with how to pay for higher education, too. People from all income levels are being forced to take out more loans to pay for...

The latest 529 college savings plan data

September 6, 2015

Americans continue to save for steep college costs through tax-advantaged Section 529 savings plans. Virginia's CollegeAmerica plan, an adviser-sold program managed by merican Funds, remains the nation's largest with nearly $50 billion in assets....

Robo takes first steps into crowdfunding for college savings accounts

September 1, 2015

FutureAdvisor, the retail robo-adviser that BlackRock Inc. acquired last week, not only manages college savings plans, now they help clients raise assets for the accounts via crowdfunding, too. With FutureGift, investors start a "campaign" with...

Biggest factors impacting what clients pay for college

August 14, 2015

It is not just the sticker price of a college that determines what the overall cost will be for a client's child. Merit and need-based financial aid can lower the cost, but interest on loans and the ever present Tax Man can drive the cost up...

Advisers should address these legal issues before clients' kids head to college

August 11, 2015

Even before packing the laptop and the XL twin sheets, parents with kids heading off to college for the first time should make sure they have taken care of a few legal housekeeping issues. Among the documents that families should consider securing...

Help clients kick kids out of the house without feeling guilty

August 7, 2015

Financial advisers can strengthen their relationships with clients by helping them get the millennials in their lives out of their homes. Having an adult child move back home temporarily can be a bonding experience between parent and child....

The tax risks of clients' overfunding their 529 savings plans

July 17, 2015

Here's a typical scenario that happens in my world. A high-earning family walks in the door and wants to begin their retirement and financial planning process. The family is prepared, highly educated and committed to developing and sticking...

How to help clients invest for college without sacrificing retirement

May 28, 2015

One of the keys to successful investing is balance. Balance is also important when it comes to saving for life goals. For families, the question is often whether to save for college or retirement — or how to save for both, often at the same...

Schwab sweetens 529 plans, cutting fees for active and passive portfolios

May 19, 2015

For clients who have college savings on their minds, Charles Schwab & Co. Inc. just got their attention by slashing fees in their 529 plans. In actively managed portfolios, Schwab is lowering its fees by an average 20%. Expense ratios that were...

Senate Finance Committee OKs changes to college savings plans

April 29, 2015

Legislation loosening the rules around Section 529 college savings plans advanced through a key Senate committee Wednesday. The Senate Finance Committee approved a measure that contains three changes that the House of Representatives passed...

Saving for college got tougher last year

April 29, 2015

Fewer parents are finding the money to save for their kids' college. And those who are saving are saving less. After a 30% jump in the level of average savings for 2013, the day-to-day cost of living, combined with lower earnings and unexpected...

Parent PLUS loans and student loan cosigning: Just say no

April 2, 2015

As high school seniors receive their college acceptance letters and financial aid packages, be sure to tell your clients to think twice about co-signing student loans or taking out PLUS loans to finance their children's education. With college...

Interest rate increases: A boon for senior savers and a disaster for variable-rate borrowers

March 6, 2015

Higher interest rates will be a blessing to many retirees looking at CDs and fixed annuities, but that very same prospect is a terrifying one for debtors, particularly those with variable-rate debt. At the end of February, Federal Reserve Chair...

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