Funding a child’s college education is a common goal for many parents. By working with BSNB Financial Services*, you can benefit from the experience of our certified financial planner who will discuss different options to help you achieve this goal. 529 Plans1 are one of the options you may wish to consider.

What is a 529 college savings plan? 

529 college savings plans are tax-advantaged college savings vehicles and one of the most popular ways to save for college today. Although the plans are a product of federal law, each state may implement multiple plans which may differ in terms of the investment options they offer, the tax deductibility of contributions, and the fees and expenses associated with the plan. Many plans, such as the plan offered by New York State, provide their residents with favorable state tax benefits.    

Is a 529 plan a good option for me?

Although anyone can open an account, we can help you determine whether a 529 plan is the best option for your family. We invite you to speak with our Infinex Financial Consultant regarding your specific situation.

What are the benefits of investing in a 529 plan? 

Significant tax benefits when the money in the plan is used to pay the beneficiary’s qualified education expenses.2

  • Funds can be used at any accredited college in the US or abroad.
  • Multiple investment options.
  • Flexible contribution frequencies to meet your needs and budget.
  • High contribution limits over the life of the plan.
  • Professional money management by state-designated financial companies.

* Investment and insurance products and services are offered through INFINEX INVESTMENTS, INC. Member FINRA/SIPC. BSNB Financial Services is a trade name of Ballston Spa National Bank. Infinex and Ballston Spa National Bank are not affiliated. Products and services made available through Infinex are not insured by the FDIC or any other agency of the United States and are not deposits or obligations of nor guaranteed or insured by any bank or bank affiliate. These products are subject to investment risk, including the possible loss of value.

1Investors should consider the investment objectives, risks, charges, and expenses associated with 529 Plans before investing. More information about 529 Plans is available in each issuer's official statement, which should be read carefully before investing. Also, before investing, consider whether your state offers a 529 Plan that provides residents with favorable state tax benefits.

2Investing in your home state 529 Plan may have state tax advantages. Please consult your tax advisor for more details.

Get Started

At BSNB Financial Services, our financial planner professionals are ready to comprehensively look at your unique goals and objectives and help you develop solutions for getting to where you want to be.

Stephan Scribner
Stephan Scribner, CFP®
Infinex Financial Consultant
990 State Route 67
Ballston Spa, NY 12020
(518) 363-8196

Stephan Scribner, CFP®Stephan Scribner, CFP®

Certified Financial Planner Board of Standards Inc. owns the certification marks CFP®, Certified Financial PlannerTM and CFP® in the U.S., which it awards to individuals who successfully complete CFP Board’s initial and ongoing certification requirements.

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