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Fidelity Advisor 529 Application Atlantic Financial  Form

Fidelity Advisor 529 Application Atlantic Financial Form

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it's Brian Preston the money guy um okay Jose's question is is using a brokerage account a good way to save money for college instead of 529 plans so can you use a brokerage account to save for college absolutely you certainly can it's not a bad mechanism to do that but when we think in the world of optimization there might be a better strategy there when you come when it's time to save you can save it a brokerage account and as you buy and sell and as interest pays out and dividends pay out you pay tax all along the way so there's going to be some natural tax drag on your Invader on your rate of return on that investment account as you move towards College enter this amazing vehicle that exists where you can do a 529 plan to save for college well now you can put dollars in and depending on the state in which you live you may even get a tax deduction for those dollars that you put in that money will grow and as you buy and sell and have dividends

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