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529 College Savings Plans Explained | Money Unscripted | Fidelity Investments

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College: It’s the number one savings priority for parents, according to the Fidelity 2024 College Savings Indicator Study. Yet, families are only on track to cover 30% of the expected costs.
It’s why, on this episode of the Money Unscripted podcast, we’re taking a deep dive into 529 plans. How do these flexible, tax-advantaged accounts work? Who can contribute? What kind of expenses do they cover? And what happens if your child doesn’t go to college? Join host Ally Donnelly and Fidelity’s Cory Latham as they hit the books to help you try and ace your college savings plan. Watch now.
00:00 Welcome to Money Unscripted
01:25 529 Plans: An introduction
04:40 How important is college savings to parents?
05:30 What is a 529 plan? And who can open one?
06:11 What are the benefits of a 529 plan?
06:45 What types of expenses can a 529 be used for?
08:26 What happens my child doesn’t go to college?
10:20 How does a 529 effect financial aid?
12:25 How should I choose a 529 plan?
14:52 How do the savings add up over time with a 529?
15:27 What if I open a 529 plan when my child is older?
16:17 Can people give a gift to a 529 plan?
16:46 529: Key takeaways
Questions? Drop them below 👇 and we’ll reply right in the comments.
New episodes drop bi-weekly on Tuesdays.
Be sure to follow, like, and share Money Unscripted!
Fidelity Brokerage Services LLC, Member NYSE, SIPC, 900 Salem Street, Smithfield, RI 02917
1177526.2.0
It’s why, on this episode of the Money Unscripted podcast, we’re taking a deep dive into 529 plans. How do these flexible, tax-advantaged accounts work? Who can contribute? What kind of expenses do they cover? And what happens if your child doesn’t go to college? Join host Ally Donnelly and Fidelity’s Cory Latham as they hit the books to help you try and ace your college savings plan. Watch now.
00:00 Welcome to Money Unscripted
01:25 529 Plans: An introduction
04:40 How important is college savings to parents?
05:30 What is a 529 plan? And who can open one?
06:11 What are the benefits of a 529 plan?
06:45 What types of expenses can a 529 be used for?
08:26 What happens my child doesn’t go to college?
10:20 How does a 529 effect financial aid?
12:25 How should I choose a 529 plan?
14:52 How do the savings add up over time with a 529?
15:27 What if I open a 529 plan when my child is older?
16:17 Can people give a gift to a 529 plan?
16:46 529: Key takeaways
Questions? Drop them below 👇 and we’ll reply right in the comments.
New episodes drop bi-weekly on Tuesdays.
Be sure to follow, like, and share Money Unscripted!
Fidelity Brokerage Services LLC, Member NYSE, SIPC, 900 Salem Street, Smithfield, RI 02917
1177526.2.0
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