Education Funding

HELP YOUR CHILD EXCEL

You focus on helping your child excel and we will help you fund their education.

Paying for a child’s education is a major objective for most families. It is also a major obstacle to staying on track financially when an appropriate financial plan is not in place.

At Mosaic, we are experienced in helping you plan for your child’s education, whether it is college or university tomorrow or private school today.

Our strategies involve a wide range of options and are based on modeling the projected cost of education in coming years or even decades. Just a sampling of the topics we will discuss include:

Coverdell Education Savings Accounts¹

Let us review your eligibility and discuss the possible advantages of this account, which allows your contributions to have tax-deferred growth potential and be withdrawn tax-free when used to pay for qualified education expenses.

529 Plans²

We will examine a wide range of different states’ plans and discuss the tax advantages of these plans to decide if a 529 plan is an appropriate choice for you. Any earnings generated will be federal (and possibly state) income-tax free as long as withdrawals are used for qualified higher education expenses.

Roth IRA³

Depending on your income and eligibility, a Roth IRA may be an appropriate option for financing your child’s education. Contributions have tax-deferred growth potential and qualified earnings may be tax-free if used for college.

Custodial Accounts

Years of experience have prepared us to guide you through your life transitions.

^{1. For Coverdell Education Savings accounts, the earnings portion of distributions that are used for non-qualified education expenses are subject to ordinary income tax, plus a 10% penalty.}

^{2. Section 529 plans are established by various states and offered to residents of all states, depending on the laws of the customer’s home state. Favorable tax treatment may be limited to investments made in a Section 529 plan offered by the customer’s home state.}

^{3. Qualified earnings withdrawals from a Roth IRA account are not subject to income tax, provided you’re at least 59 1/2 and you’ve held the account for five years.}

^{It is not our position to offer legal or tax advice. Consult a legal or tax advisor regarding this information as it relates to your personal circumstances.}

^{Our first priority is helping you take care of yourself and your family. We want to learn more about your personal situation, identify your dreams and goals, and understand your tolerance for risk. Long-term relationships that encourage open and honest communication have been the cornerstone of my foundation of success.}

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