Date and Time
–
05/29/2024
Length
1 hour
Description
Save the date for Wednesday, May 29th, as we embark on a celestial journey together. Join us for a workshop that aims to elevate your financial trajectory and reach for the stars in securing your future or that of your loved ones. With a cosmic focus on education and disability-related expenses, this transformative event will explore the galaxies of 529 Plans and ABLE Accounts, guiding you through the cosmos of financial planning with invaluable insights and practical strategies. Let’s set our sights high and navigate the constellations of education and disability savings together.
What to Expect
1. Introduction and Ice Breaker (10 minutes
- Welcome participants and introduce the topic of the workshop.
- Ice breaker question: What is an educational dream or goal you have?
2. Understanding 529 Plans (10 minutes)
- Define 529 plans and their purpose in saving for education expenses.
- Explain the benefits and potential tax advantages of 529 plans.
- Overview of two main types: College Savings Plans and Prepaid Tuition Plans.
3. ABLE Accounts: An Introduction (10 minutes)
- Define ABLE accounts and their purpose in saving for disability-related expenses.
- Explain the eligibility criteria and contribution limits for ABLE accounts.
4. Contributions and Investment Options (10 minutes)
- Explore contribution limits, eligibility requirements, and potential penalties for both 529 plans and ABLE accounts.
- Discuss various investment options available within both types of accounts.
5. Using Funds: Education and Disability Expenses (10 minutes)
- Explain eligible expenses covered by 529 plans, including tuition, room and board, books, and certain K-12 expenses.
- Discuss eligible expenses for ABLE accounts, such as housing, education, transportation, and healthcare.
6. Benefits and Risks (5 minutes)
- Highlight the long-term benefits of investing in 529 plans and ABLE accounts for education and disability savings.
- Address potential risks and considerations associated with both types of accounts.
7. Closing: (5 minutes)
- Recap key points from the workshop, emphasizing the importance of education and disability savings.
- Provide a brief update on Penny Forward initiatives, upcoming events, or resources related to financial capability.
Join us as we embark on a journey towards financial empowerment and independence. Don’t miss out on this opportunity to gain invaluable insights and practical strategies for securing your future or that of your loved ones. Together, let’s explore the realms of education and disability savings with 529 Plans and ABLE Accounts. It’s a cosmic adventure you won’t want to miss! See you there!
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