Plano Financial Advisor

A Plano financial advisor is a great resource for everything from buying a home to retirement planning. It's easy to find local advisors by simply looking online. You may even work with a Plano financial advisor from the comfort of your living room. No matter whether you are looking for an advisor to help with an education savings plan, or an investment advisor, you can find the perfect Plano financial advisor to help you today.

College Planning in Plano, Texas

Finding the perfect college savings plan in TX, is an important step towards your child's financial future. There are several Texas college savings plans in Plano. One of the more popular ones is the 529 plan. The 529 plan is sponsored by the state of Texas and is available to any resident of the United States regardless of whether they live in Texas. There are several advantages to using the 529 plan. The earnings are tax free for the life of the plan and the distributions are also tax free as long as they are used for approved education expenses.

A 529 plan can be used for most any institution in the United States and even some in other countries. You choose who the recipient of the plan is and can change it to another recipient if you need or want to. The contributor also controls the funds and the investment of those funds for the life of the plan. You may invest in low, medium, or high-risk options depending on your needs. There is no minimum income or age restrictions on contributing in a 529 plan and the contribution limits are higher than other comparable plans. If you would like more information on the 529 program, talk to a Plano financial advisor today.

Another popular college investment plan in Plano is the Coverdell Education Savings Account or ESA. The Coverdell ESA has some advantages and disadvantages compared to the 529 program. One advantage is the ability to use the funds for approved elementary, secondary, and higher education expenses rather than just for college tuition. The approved expenses include tuition, room and board, and supplies, including computers and laptops. You may even use the funds for tutoring or transportation to and from the school.

The disadvantages to using the Coverdell ESA program include the age limits of the child and the withdrawal requirements. Contributions are only allowed for students below the age of 18. Once a student reaches 18, they can still withdraw the money but the contributor can no longer add money to the program. The funds must be withdrawn before the student's 30th birthday or they must be moved to another recipient. If the funds are withdrawn and not used for educational expenses, taxes and penalties will apply. Talk to a Plano financial advisor about opening up a Coverdell ESA savings account for your child today.

Any advisor will tell you the most important thing to remember about planning for college is to start saving early. College expenses in Plano increase steadily every year and are unlikely to start coming down. If you start saving early, you will be well prepared to send your child to college when the time comes. Talk to a Plano financial advisor to determine what the best college savings plan is for you.

Family Planning

Creating a family budget is an important step in saving for college or any other goal your family might have. You should begin with a list of goals that are identified as long term and short term. Next, identify the expenses you have each month. Be sure to include even small recurring expenses as they can add up over time. Review your expenses carefully. Is there room for eliminating expense? Maybe you could save by taking your lunch to work, or not purchasing coffee at the local coffee shop. Anywhere you can shave expenses, will give you more to add to savings.

Once you have your goals and expenses identified, meet with a Plano financial advisor for advice on how you can create a budget to meet those goals. A financial advisor will help you with planning for major expenses such as college educations and retirement, and provide you with advice on how to manage your current expenses better. A financial advisor can be an excellent resource for anyone who needs advice on monetary matters in Plano.

A Plano financial advisor is one of the best resources for everything from 401k and Roth IRA investment advice to creating a financial budget. If you need the help of an financial investment advisor or financial planner in Plano, search online for local advisors in your area. Once you find a Plano financial advisor, you will use them for years to come to help with all of your monetary needs.

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Financial Advisors In Plano

Dan Richey
Dan Richey
8000 Coit Road
Suite 600
Plano, TX 75025

Justin Farris
Justin Farris
14800 Quorum Drive
suite 360
Dallas, TX 75254

Justin Gedlen CFP, CRC
Justin Gedlen CFP, CRC
14135 Midway Rd
Suite G 100
Addison, TX 75001

Mike Kurz
Mike Kurz
6136 Frisco Square Blvd, Suite 400 #1099
Frisco, TX 75034

Aaron Cherry
Aaron Cherry
13727 Noel Road Tower 2
Suite 1075
Dallas, TX 75240

Zach Allen
Zach Allen
5005 LBJ Freeway
Suite 1410
Dallas, TX 75244

Chris Leap CFP
Chris Leap CFP
8604 Greenville Ave Dallas TX 75243
1000 Heritage Center Circle, Round Rock TX
Dallas, TX 75243

John Kvale, CFA, CFP
John Kvale, CFA, CFP
8222 Douglas Avenue
Suite 590
Dallas, TX 75225

Lori Bensing
Lori Bensing
5605 North MacArthur Blvd.
10th Floor
Irving, TX 75038

Dan Richey
Dan Richey
4500 Mercantile Plaza Dr
Suite 300
Fort Worth, TX 76137