Investment for Education

How will you provide for the education your children deserve? One of the best gifts you can give your children – or grandchildren – is a college education without the financial burden of loans they’ll need to repay in the early years of their careers. We’ll help you explore your options.

529 College Savings Plans

Invest a small or large amount to shift a portion of your estate to future generations or fund your own higher education if you’d like! You’ll have high annual contribution limits, plus earnings and withdrawals are tax-free as long as funds are used for qualified expenses. Before investing in a 529 plan, investors should carefully consider whether the investor's or beneficiary's home state offers any state tax or other benefits available only from that state's 529 plan.

Formerly known as an Education IRA, these plans allow you to invest tax-free up to $2,000 per beneficiary per year if you use the money for qualified educational costs. Worried about how much to put in? If any balance remains after all expenses are paid, the account can be transferred to another eligible family member.

UTMA/UGMA Accounts

These types of accounts allow you to give unlimited gifts to a minor including cash, mutual funds, life insurance, annuities, and more. While you are still the custodian for this account, the account has the child’s social security number attached to it, providing some income tax benefits.

Additional Funding Sources

Our investment professionals can discuss other ways to invest for education including:

  • Life Insurance
  • Zero Coupon Books
  • Other IRAs
  • Tax-efficient Mutual Funds

 

Securities and insurance products are offered by Cetera Investment Services LLC, member FINRA/SIPC. Advisory services are offered by Cetera Investment Advisers LLC. Neither firm is affiliated with Citizens Independent Bank or its related companies. Investments are: • Not FDIC insured • May go down in value • Not financial institution guaranteed • Not a deposit • Not insured by any federal government agency.

View Cetera Investment Services privacy policy and other important information.

Investment Executives are registered to conduct securities business and licensed to conduct insurance business in limited states. Response to, or contact with residents of other states will only be made upon compliance with applicable licensing and registration requirements. The information in this website is for U.S. residents only and does not constitute an offer to sell, or a solicitation of an offer to purchase brokerage services to persons outside of the United States.

Advisory services may only be offered by an Investment Adviser Representative in connection with an appropriate Advisory Services Agreement and disclosure brochure as provided. Registered address: 5000 West 36th St, St. Louis Park, MN 55416.

Consult your legal or tax counsel for advice and information concerning your particular circumstances. Neither Cetera, nor any of its representatives may give legal or tax advice.

Check the background of Citizens Investment Services' investment professionals on FINRA's BrokerCheck.