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COVERDELL EDUCATION SAVINGS
Saving 101
Getting a degree can be expensive. A Coverdell ESA allows you to earn high dividends on the money you set aside specifically for higher education. You'll be surprised by how fast your kids grow up, don't be surprised by the costs of books and tuition.
This Is a Tax Advantaged Way to save for a Child's Education.
- Deposit up to $2,000 per year for each child under 18.
- Withdraw money without an IRS penalty as long as it is used for higher education.
- Qualified withdrawals are tax-free since deposits are made after taxes.
- Money must be withdrawn by the time the child reaches age 30 (late withdrawal penalty may apply).
- Open a Coverdell Education Savings Account Accumulator with no minimum deposit.
- Open a Coverdell Education Savings Dedicated Savings account with no minimum deposit and an automatic monthly deposit of as little as $10 per month.
- Open a Coverdell Education Savings Certificate Account with a low $500 minimum deposit.
A Valuable Investment
Investing in education is important for your family's long-term financial health. We have a vehicle to assist.
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