How To Avoid Student Loan Debt! 529s VS Coverdell ESA

Описание: #Invest #Save #College
A major key to building generational wealth is getting rid of debt, so wouldn’t it be great if we didn’t leave our kids with a ton of it as soon as they graduate from school? This video is both an intro to investing and a course in understanding the tools available to plan ahead for those college expenses.

📍Timestamps
00:00 - Intro
01:55 - Investment Options for College Savings
02:30 - Saving vs. Investing
04:05 - Investment Calculations (What you can look forward to 😃)
06:13 - What is Compound Interest?
09:19 - 529 Prepaid Plan
14:50 - 529 Savings Plan vs. Coverdell ESA
16:34 - What qualifies as an educational expense?
16:50 - What happens if they don’t go to college?
19:08 - What else is covered?

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529 Prepaid Plans
These plans will be accepting new applications during their specified enrollment periods:

Florida Stanley G. Tate Florida Prepaid College Plan
Maryland Senator Edward J. Kasemeyer Prepaid College Trust
Massachusetts U.Plan
Michigan Education Trust (MET)
Mississippi Prepaid Affordable College Tuition (MPACT) Program
Nevada Prepaid Tuition Program
Pennsylvania 529 Guaranteed Savings Plan
Texas Tuition Promise Fund
Washington Guaranteed Education Tuition (GET)
Private College 529 Plan