Smart Investing with 529 Plans

Welcome to this week’s edition of the Doctor’s Eyes Only podcast where Vestia Partner and CEO Lauren Oschman discusses the flexibility and limitations of 529 education savings plans that physicians can potentially take advantage of when saving for their children’s future education costs. Lauren explains what a 529 savings plan is, how it works, and the benefits of using this investment strategy for the potential of tax free growth and state tax deductions. With most anything that has a tax benefit, 529 plans have limits to contributions, and the money can only be used for a select number of qualified expenses, but as Lauren explains, there have been recent changes that allow for more potential flexibility in how the funds can be used. Lauren also covers some other important scenarios such as receiving college scholarships and options available if someone over saves. As always, the information in this podcast is a general over head view of the different options and limitations of a 529 plan, and we suggest meeting with your financial advisor and your accountant before making investment or tax decisions based on your specific situation. If this is something that your advisor hasn’t quite gotten the depth of, or maybe you don’t have a financial advisor, we at Vestia have a great team of advisors who help doctors with this and other investment decisions. You can reach out to us at myteam@vestia.com, and an advisor will be in touch to discuss your potential options. Thank you for listening and/ or watching and make sure you subscribe or follow so that you don't miss any future episodes.

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