By Nick Clay of BCS Wealth Management
This blog was first posted on the BCS Wealth blog on May 29th.
May 29th was National 529 Day! Get it? 5-29 (May 29th)? If you’ve been a subscriber to our blog you will know that in the past we have spent some time writing about the importance of saving money for a college education. To avoid repeating myself please feel free to review these past articles on our blog:
One disturbing fact regarding the cost of education is that it has left students with $1.18 trillion in outstanding debt (finaid.org) $1,180,000,000,000! If you, your child or grandchild is a part of that statistic it could mean a number of things, including:
- Stress – in multiple ways
- Inability to qualify for a mortgage, or a decent interest rate
- A delay in saving for retirement as loans are paid off first
The average college graduate is stuck with almost $30,000 in loan debt right out of the gate! We want to encourage you to help your kids and grandkids out by starting a 529 College Savings Plan. In honor of National 529 Day we will reward you by offering you a VISA gift card valued up to $100 for simply starting a 529 College Savings Plan for your child or grandchild, it’s that easy.
We will make this offer available for the entire month of June, so if you are interested or if you have questions, please feel free to call (423.283.9821) or email (nclay@bcswealth.com).