Grandparents often want to assist their grandchild with college. But they don’t know the best ways to help. In this brief video, Jim Mailliard talks about grandparents and 529 education savings accounts.
These investment vehicles are state-sponsored college savings plans. They invest money on behalf of participants, much like mutual funds invest shareholder money. Earnings grow tax-deferred, and withdrawals can be used for a variety of qualified education expenses.