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This article brought to you courtesy of Matt Stutes, CFP, Cornerstone Wealth Management, Canby Herald Insider Financial Planning Expert.

Matt Stutes, CFP

May 29th is 529 College Savings Day and I wanted to let you know that we are always available to answer any questions you may have about the potential benefits of 529 plans.

A few tidbits about the powerful savings/investing tool:

- While 529 plan assets can be used to pay for tuition and books, they can also pay for computers, internet access and other equipment.

- 529 plans aren't just for college. They can be used to pay up to $10,000 per year per student for K through 12th grade programs.

- 529 assets can also be used to pay for registered apprenticeship programs and repayment of college debt.

Prior to investing in a 529 Plan, you should consider whether your state offers any state tax or other state benefits such as financial aid, scholarship funds, and protection from creditors that are only available for investments in such state's qualified tuition program. Withdrawals used for qualified expenses are federally

tax free. Tax treatment at the state level may vary, consult with your tax advisor before investing.

If you'd like to learn more about how I can assist you in setting up a 529 plan, please contact our office for more information or to schedule a consultation.

Cornerstone Wealth Management

486 NW 2nd Avenue

Canby, OR 97013


Securities and advisory services offered through LPL Financial, a registered investment advisor. Member FINRA/SIPC. The opinions voiced in this material are for general information only and are not intended to provide specific advice or recommendations for any individual. Rebalancing a portfolio may cause investors to incur tax liabilities and/or transaction costs and does not assure a profit or protect against a loss.

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