Investing in Your Child's Future: Understanding Education Savings Accounts
Reach Your Summit Podcast
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Reach Your Summit Podcast
Investing in Your Child's Future: Understanding Education Savings Accounts
Nov 14, 2023 Season 2 Episode 2
Summit Wealth Group

Ever wondered how you can finance your child's college education without breaking the bank? Join us as we unpack the various options available with our expert advisor, Josh Oller. Learn about the tax-free growth potential of 529 college savings accounts and how starting early could drastically reduce the financial burden of college. The conversation doesn't stop at 529 plans, though. We move on to compare Coverdell ESAs and 529 plans, examining the pros, cons, and who they could be most suited for. 

 This episode is a goldmine of valuable insights, helping you make informed decisions about your child's future education costs. Tune in now to start planning effectively!

**The fees, expenses, and features of 529 plans can vary from state to state. 529 plans involve investment risk, including the possible loss of funds. There is no guarantee that an education-funding goal will be met. In order to be federally tax-free, earnings must be used to pay for qualified education expenses. The earnings portion of a nonqualified withdrawal will be subject to ordinary income tax at the recipient’s marginal rate and subject to a 10 percent penalty. By investing in a plan outside your state of residence, you may lose any state tax benefits. 529 plans are subject to enrollment, maintenance, and administration/management fees and expenses. **

A little more about Josh Oller:

Josh joined Summit Wealth Group in July of 2019 working alongside Chris Wells as a Financial Advisor in Summit's Ridgeland, MS branch office.  Josh completed the CFP® certification in October of 2021. He spends time with Chris in an advisory role and is also part of Summit's financial planning department.

Josh is a graduate of Mississippi State University, where he obtained both a Bachelor’s and Master’s degree in Business Administration, all while competing for the MSU golf team.  Josh began his career in the banking industry in 2012 and eventually found his niche in the credit department of the bank, where he became the VP of Credit Administration.  In this role, Josh was able to learn the many aspects of corporate finance, taxation, and business cash flow. 

Josh later realized that his real passion was working with people.  He wanted a career that helped people reach their goals and is excited to help our team assist clients with navigating the bumpy road to the lifestyle they seek.  

Josh currently resides in Jackson, MS, with his wife, Mollie, daughter, Betts, their cat, Lady Grey, and their dog, Rory. Josh and Mollie love outdoor activities and anything that revolves around food! They often joke that their vacations are focused mainly on what places have the best local restaurants. Josh still has a strong passion for golf and regularly competes at various tournaments throughout the state.

Securities and Advisory Services offered through Commonwealth Financial Network®, Member FINRA/SIPC, a Registered Investment Adviser. Fixed insurance products and services are separate from and not offered through Commonwealth Financial Network®.

Thanks for listening! Make sure to follow us on all the socials at @summitwealthgroup, so you don't miss an episode!