College within reach
Higher education is a practical investment in the future earning potential for the young (and not so young) scholars in your life. Funding a college education for a child, grandchild or other individual is a tax-efficient way of saying: “I care about you.”
Your RBC Wealth Management financial advisor can help you explore your options for paying college costs. These options may include:
- 529 plans
- Uniform Gift to Minors Act (UGMA) accounts
- Uniform Transfer to Minors Act (UTMA) accounts
- Trust accounts
Whether paying college costs is a long-term goal or a pressing need, you can be confident you'll have choices. Your financial advisor will project your cash flows considering expected tuition costs and inflation expectations. As appropriate, your plan may include various strategies to help achieve a desired rate of return, as well as tax-efficient funding and gifting strategies.
Important disclosure information about 529 Plans and tax advice.