Build a Better Financial Future 078: How to Gift Your Kids a Student Loan Free Education
The cost of education continues to rise. Imagine being able to give your kids the gift of a student loan free education. Tune in to learn more about ways to save for your kids' education while using the tax code in your favor.
Luis is the founder of Build a Better Financial Future LLC. He came to the U.S. at age 11 from the Dominican Republic. Growing up in New York City Luis noticed the lack of financial literacy in his community and was inspired by his parents to work hard and pursue an education.
From participating as an FPA NexGen ambassador/host, and being a CFP Board Ambassador, Luis uses his platform to help spread financial literacy via media outreach as well as encourage younger and diverse planners to join and thrive in the profession.
He is the host of the "On My Way to Wealth" podcast, co-founder of the BlatinX (BLX) Internship Program and LatinXcellence – an initiative that seeks to bring awareness to and help close the wealth gap in the LatinX community. Luis was named one of InvestmentNews 40 Under 40 in 2019 and Financial Advisor Magazine's 10 Young Advisors to Watch, as well as Investopedia Top 100 Financial Advisors in 2020 and 2021.
Notes:
In this episode, Luis talks about the following and more:
- What a 529 Plan is.
- The Federal & State Tax Benefits of 529 Plans.
- How the Money in the 529 Plan is Invested.
- What Happens if the 529 Plan Funds Are Not Used for Qualified Expenses.
Resources: