Invest In A 529 Retirement Plan
Retire On Track LLC.
There are two dreams that almost everyone with children has. The first is to be able to afford to pay for their children's college education. The second is to be able to have a financially stable retirement.
Both of those goals require financial planning. You need to have the best advice that you can get when it comes to deciding how to best save for both. After all, how do you know whether it is better to invest in a 529 account to pay for your child's tuition expenses or to invest in your retirement so that you can achieve all that you have planned -the ability to travel, to pay your bills and to still have money set aside to cover unexpected expenses.
You do not have to choose between a 529 and a retirement plan. You can have both, but do you need to be aware of how a 529 plan will affect your retirement savings.
For example, what happens if your children decide that they do not want to go to college despite the fact that you've invested thousands into a 529 account? Are you aware of the penalties for using the money from a 529 plan for anything other than education?
Similarly, if you have invested in a 529 plan, you will not have been adding as much to the savings and investments in your retirement plan. You may find that, after investing in your child's education, you have not prepared as well for your retirement as you had hoped.
Therefore, it's important for you to understand the way that all of the accounts that you use to save for the future will work. You need to understand the way that savings accounts function. You need to understand the ways that stocks, bonds and mutual funds work -together and separately -to build a foundation for the retirement that you've always dreamed of.
But what can you do to make sure that you understand your savings and investments? One thing that you can do is to Try Bob's free retirement calculator. While it is focused more on your retirement plan, you can also use it to examine the investment possibilities that your 529 plan offers.
You'll be able to evaluate the performance of your savings and investments -see the way that the stocks, bonds and mutual funds that you've invested in have performed in the past. You'll also be able to use it to get projections for how your savings and investments will continue to perform over the next 30 years; the projections will also take into consideration the affects of changing interest rates and inflation on the savings and investments that you have.
But you can also use our retirement calculator to look at the way that changes you make to your savings and investment strategies -whether for a 529 account or a retirement plan. You can see the way that stocks, bonds and mutual funds you have not yet invested in have and will perform. And you can also study the way that withdrawals from your savings will affect the amount of money that you have available when you need it.
Because we know that our retirement calculator cannot answer all of your questions, we have arranged for everyone who utilizes Bob's free retirement calculator to receive a free consultation with a financial advisor. During this consultation you'll be able to ask questions that you have about the advantages and disadvantages of both your 529 and your retirement plan.
But more than that, you'll be able to get the advice that you need to make both of your major financial dreams come true -both having the money to pay for your child's education and to have all of the money that you need when you retire.
You owe it to yourself and your children to plan well and be able to afford both their education and your retirement. Don't let yourself -or them -down: Check out Bob's free retirement calculator and talk with a Trusted financial advisor. Make sure that all your dreams come can become your realities.
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