Kids 529 Education Plan Savings Estimator by Vanguard

One of the critical part of financial planning is to plan for funding kids education. There are lots of studies which shows that tuition fees expected raise every year and no one really can predict it. It’s wise to be planning well in advance and prepare yourself to pay for their education and than scrambling at the last minute.

Vanguard has been really great about publishing articles and tools to help out investors. This Vanguard tool helps you visualize how much you’ll need to save for college and how changing up a specific factor would affect your results. It adjusts for age, contributions, investment returns, tuition inflation, and even looks up the current cost of your favorite university. A formal report is spit out with lots of charts, just like a financial advisor might create for you. Here is sample screenshot of my scenario.

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Here is another set of handy Vanguard tools, a 529 Plan Interactive Comparison Map and Tax Deduction Calculator.

Courtesy: mymoneyblog.com

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