College Savings Talk Edvest

In this episode of “College Savings Talk,” we tackle two of the biggest questions facing parents as they save for their family’s higher education goals-“when should I start saving?” and “how much should I save?”
 
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Intro - 00:00
Hello, everyone. Welcome back to “College Savings Talk,” where our goal is to add some clarity and remove a little anxiety from your higher education decision-making process. Today’s episode is brought to you by Edvest 529, Wisconsin’s 529 College Savings Plan. 
Planning for your family’s higher education future using Edvest 529 is a proud Wisconsin tradition like Summers spent Up North, Fall Football and Friday fish fries. Today’s discussion will hopefully make that planning a little easier for you.
Topics – 00:40
The topics we’re discussing are the ever-important questions, “When should I start saving for my child’s or grandchild’s college or technical college education?” and “How much should I save?” Let’s take one at a time and start with when you should start saving. 
Question Number  - 00:56
The answer, which should come as no surprise to any of you, is as early as possible. Now since I don’t want to host the world’s shortest podcast, let’s take a look at why it’s so important to save early.
Two words for you: Compound. Earnings. The sooner you get money into an investment vehicle, like a 529 plan, the sooner those funds can start working for you in the form of earnings. Over time, any earnings are invested back into your 529 account so that earnings keep building on your principal (the original amount you invest). This is a powerful principle of long-term investing.
College tuition and fees continue to rise. And while it may seem like college is light years away for your child, it’s going to be here before you know it. Unfortunately, once the months and years tick away, you simply cannot get that time back to take advantage of the compound earnings you could have accrued. 
So in short, it’s best to start investing as soon as possible. But even if you weren’t able to start as early as you would have liked, it’s OK. It’s important to remember it’s never too late to start saving for higher education in a 529 account. Even if your children are older, you can still open an account and begin making contributions right away. If you find yourself falling behind, encourage grandparents or other family members to make contributions as birthday, holiday and graduation gifts with Edvest 529’s Ugift. Always know, even if you don’t save as much as you intended, every little bit can help make college or technical college a reality for your child. 
Question Number 2 - 02:44
Let’s tackle the other big question -“How much should I save for my child?”
To be honest, there really is no right or wrong answer to this question. It comes down to personal choices and your economic situation. That said, I wouldn’t be doing my job if I didn’t give you a little more information on this potentially perplexing question. 
Let’s start with the dollars and cents information. While some families may have the goal of paying for all or a most of their child’s higher education, economic realities may prevent that from happening. In cases like this, it’s important to remember even modest savings can really add up. Every dollar saved today could be one less dollar borrowed tomorrow. Let that sink in a little bit.
If you need help setting a savings goal or understanding how much you can save, Edvest 529 provides a College Savings Planning Calculator on our website, Edvest.com. This is a very helpful tool when developing a plan for saving, as the calculator provides a wide range of variables and actual cost data from most colleges and universities in the country. Try different saving scenarios and then set your plan. Don’t forget, you’re not locked into a set contribution amount or schedule with a 529 ac

The very first episode of “College Savings Talk” provides a detailed breakdown of what 529 plans are, outlines their primary advantages and explains why they are an ideal investment vehicle to use for a family’s higher education savings.
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Intro - 00:00
Hello and welcome to the first episode of our brand new podcast “College Savings Talk” brought to you by Edvest 529, Wisconsin 529 College Savings Plan. We created this podcast as a way to educate families about saving for college and technical college, and to discuss misconceptions about saving for higher education. While there are other types of savings options, we're going to focus our discussion on one of the more popular ways families prepare for the cost of higher education - the aforementioned 529 plan. 
What Are 529 Savings Plans? - 00:40
So, let’s start at the beginning, “What exactly are 529 savings plans?”  
Think of them as retirement accounts but for college and technical college. With standard savings accounts funds have a tendency to just sit while they are at a rate of return. However, just like retirement accounts, the money placed in 529’s can actively work for you as funds are invested into portfolios made up of a mixture of stocks, bonds, and cash. Some 529’s even offer guaranteed rate options made up of annuities and money market accounts and just like with Roth IRA retirement accounts you contribute after-tax money. Any earnings are tax-deferred meaning the gains on your college savings will not be subject to taxes as long as the money is used for qualified education expenses like tuition, room and board, books, supplies, computers, and tablets.
 
Remember the old adage “every little bit helps,” well it really rings true with 529 plans.
Key Advantages - 01:50
Are you intrigued by the potential for tax-deferred growth 529 plans offer? Well, that's just one of six key 529 plan advantages. What are the rest?
Tax Advantages - 02:04
Let's start with the additional tax advantages to 529 plans. As Wisconsin's official 529 College Savings Plan, Edvest offers a state tax deduction for each child or student. Wisconsin also offers state tax-free growth of any earnings and Wisconsin employers may even qualify for a state tax credit based on their contributions to employee Edvest accounts limitations apply. State tax benefits vary by state, so please visit your home state's 529 plan website for more information. 
Accessibility - 02:37
Accessibility is another major benefit of investing in 529 plans. Anyone who is a US citizen or resident alien and at least 18 years old and would like to contribute on behalf of a beneficiary is eligible to create or add funds to a 529 account. There are no income requirements or limits and you can open any state's 529 plan regardless of where you or your future student lives. 
Flexible - 03:07
529 plans are also incredibly flexible. Funds can be used nationwide at universities, colleges, technical colleges, grad schools, professional schools, and even at many schools abroad. You don't have to use 529 funds in the state where you live or even in the state where the 529 plan is set up. This means you can reside in Wisconsin, open an Edvest account, and your child or grandchild can use the funds almost anywhere they wish to study. Saving with 529’s can be a low-cost, high-value way to pay for college. Direct-sold 529 plans are available to families without sales charges and offer access to professionally managed investment portfolios.
Ease-of-use - 03:55
Lastly, a major advantage of 529 plans is ease of use. If you have $25 and 15 minutes you can start saving for college or technical college with Edvest. You can set up automatic contributions from a bank account or your paycheck. You can also deposit funds whenever you like. You can even receive online account access to monitor your account performance - now that is flexibility.
Conclusion - 04:24
Saving for college can