September 4, 2019
Many families struggle to save enough for retirement – let alone college. Sadly, many students are left with crushing loads of debt upon graduation. And while a benevolent billionaire might be willing to pay off your kids’ debts, we wouldn’t bet on it.
So, if you are behind on saving for the kids’ college, what should you do?
At Deupree James Wealth Management we strive to help busy people like you make wise financial decisions so you can feel confident about the future. If you need a short-cut to college savings, we have a solution.
The state of Louisiana sponsors a little-known 529 college savings plan that acts sort of like a 401(k) matching program. The state provides an “earnings enhancement” equal to 2% to 14% (depending on income) of a Louisiana participant's contributions when the account is used for qualifying expenses. This is one of the most generous 529 matching programs in the country, but few seem to use it.
So what are you waiting for? Will you leave your kids or grandkids with a pile of student loans or the gift financial freedom?
Call us if you'd like to learn more: 318-562-1030 or
Drop us a line.
PS – You or your family don’t live in Louisiana? No sweat. According to our research, about 20% of state 529 plans feature a matching contribution from the state. Next time you are in our office ask us what type of plan would be best for your family and we’ll tell you everything we know and college savings plans.