Reported 4 months ago
Tricia Scarlata, Head of Education Savings at JPMorgan Asset Management, discusses the importance of 529 plans for saving for a child's higher education on Yahoo Finance Video. Scarlata emphasizes that it's never too early or late to start saving in a 529 plan, highlighting the tax benefits and potential investment earnings that families can benefit from. With college costs continuing to rise, Scarlata recommends prioritizing savings in a 529 plan over cash accounts due to the significant financial advantages. She also stresses the value of merit scholarships in making college more affordable and encourages families to start saving early and leverage 529 plans for educational expenses.
Source: YAHOO