529 College Savings Plan at Fidelity

We all know about 401k and Roth IRA, but since I now have Baby Buck in the mix, I can add 529 in my quest for a golden retirement. Wait Buck, you’re sleep deprived! (I know I am). From savingforcollege.com, a 529 Plan is an education savings plan operated by a state or educational institution designed to help families set aside funds for future college costs. It is named after Section 529 of the Internal Revenue Code which created these types of savings plans in 1996. What does that have to do with retirement? Plenty. Since this is another instrument to grow my investment dollars tax free, you bet it will help my retirement bottom line.

I recently opened a new account with Fidelity. Since I already have most of my funds there, Fidelity automatically populated my personal information making an already quick registration process even faster. Follow along and you’ll be up and running with your brand new 529 college savings account in no time. I literally clicked through about ten screens and was done in minutes. Your biggest challenge is deciding your investment strategy and what mutual funds to buy. Do your due diligence or consult your financial advisor. Click on the pictures below to magnify the image for more details.

Final Thoughts

After the account was opened, it took two business days for the bank transfer. Since I procrastinated just a bit, I missed out on the nice pop from the iPhone 5 and QE3. Oh well. I’m not a fortune teller, but what I do know is Baby Buck and I took steps in the right direction as we battle the ever growing expense of college. Weapon of choice? Our brand new, shiny 529 College Savings Plan!

Stay Inspired!

529 Personal Information

529 Employment Information

529 Associations

529 Beneficiary

529 Successor

529 Account Settings

529 Investment Strategy

529 Investment Strategy 2

529 Bank Fund Account

529 Bank Transfer

529 Next Steps

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3 Responses

  1. krantcents says:

    Good move Buck! You want to start early because college will be more expensive by the time your chil(dren) are ready for college.

  2. Nolan says:

    Fidelity College Savings Plan is flexible account specifically designed for college savings. Qualified distributions from a 529 Plan account are federal income tax-free.

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