| Education Planning |
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With the cost of education on the rise, it's more important than ever to start a savings and investment plan for your child's education. With the right planning, you can make education affordable, and Lowell Five Investment & Insurance Management can help structure a financial plan that matches your time frame and budget.
Below are two of our most requested products. For additional information, or to review other savings and investment options, contact our Investment & Insurance Management Team by phone at 978.323.7202 or email.
Section 529 Plans* A 529 Plan is an easy, flexible way to save for education expenses. You can fund the account through scheduled, automatic deposits or a lump sum contribution. In addition, a 529 Plan has no income limitations or age restrictions, and contributions can be made up to $300,000 for each student.
Coverdell IRA A Coverdell Education Savings Account is a great way to help parents and students save for education expenses for qualified elementary and secondary schools, as well as colleges and universities. Total contributions for the beneficiary of this account cannot be more than $2,000 in any year, but amounts deposited in the account grow tax free until distributed. The beneficiary will not owe tax on the distributions if they are less than the beneficiary's qualified education expenses at an eligible institution.
Click here to use the Education Calculator.
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| Lowell Five Cent Savings Bank is not affiliated with New England Securities. Securities products and investment advisory services are offered through registered representatives and financial planners, respectively, of New England Securities (NES), Boston, MA, a broker dealer (member NASD/SIPC) and registered investment advisor. Lowell Five Cent Savings Bank is not affiliated with NES or Baystate Financial Services. Each firm is independently responsible for the services it provides. Products and services made available through Baystate Financial Services, LLC and NES are not FDIC insured, not a condition of any bank service, not a deposit product, no bank affiliate guarantee, no guarantee of insurance, underwriter performance, may lose value, and the bank cannot condition an extension of credit on the purchase of an annuity or insurance product from the bank itself or one of its affiliates. Neither NES, Baystate Financial Services nor any of their affiliates, employees or representatives provide specific tax or legal advice. Please consult your legal or tax advisor for more information on these subjects. Baystate Financial Services is not affiliated with NES. |
