“529 plan should be a no brainer for parents with children under 18.” – Investment News
“When it comes to long term investing, costs matter” – John Bogel, Founder, Vanguard Group
“CloudFi’s College Savings Plan saved me time and money” – VP, Citigroup, New York City
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Q: When should I start saving for my
children’s college education?
Experts agree that parents should start as early as possible. The impact of tax-free compound growth is very significant. And the most important ingredient for growth is time. It is better to start small and let your money grow rather than to wait.
Q: Can I trust your recommendations?
We’ve already helped many others to get on track to reach their goals. We’ve built financial software for over 30,000 financial advisers. And our methodologies are consistent with guidelines defined by the Financial Planning Association. Our software analyzes over 5,000 college savings investment options across all 50 states to find the best one for you. In the end, given enough time and books, you can probably perform the same analyzes. But our goal is to save you time and money and get you on your way towards sending your children to college.
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Q: Why is it important to minimize taxes and fees when choosing an investment strategy?
Your money should be going towards growing the college fund, not paying money managers. Fees and taxes are a huge drag on your investment returns. This is especially true over the long term. Fees vary greatly across funds. While some funds will charge 0.22% per year, others charge over 2%. Picking a cheaper fund could save you tens of thousands of dollars over 18 years. By using a 529 college savings plan, you can avoid taxes all together. Many states even offer residents tax benefits in the form of a tax deduction or credit, which could add up to thousands of dollars over time. Our 529 Plan Fund Selector can help you find the best fund for you given your circumstances.
Q: How much personal information do I need to provide to get started?
You can get started in under 3 minutes. And it doesn’t take much. You’ll just need to provide your children’s age, your state of residency, the type of colleges you’d like to send your children to, and if you already have a 529 plan, the state and investment option to see if you can do better. We do not collect any confidential or private information and we’ll never share your information with anyone.
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