Explaining 529s with Collegebacker CEO Jordan Lee


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Jordan Lee is the CEO and co-founder of CollegeBacker, a startup that helps people start 529 college savings plans. In this episode, learn what a 529 plan is, why it’s so important and how to get started.

In today’s episode, you'll find out:

  • What led Jordan to co-founding CollegeBacker
  • How a 529 plan works
  • The impact of saving when your child is young
  • What counts as a qualified expense for a 529
  • Tax benefits of a 529
  • What’s a good annual contribution
  • Should a 529 be priority over retirement savings?
  • What superfunding is
  • How to calculate what to save in a 529
  • How friends and family can contribute to your child’s 529
  • Which states provide income tax benefits with 529 plans
  • What happens if your child decides not to attend college
  • Differences between adviser-sold and direct-sold plans
  • How you might choose where to house a 529 plan
  • How prepaid tuition plans work
  • Can you save too much to a 529?
  • Why every parent should contribute a 529 plan

Full show notes at https://studentloanplanner.com/33

46 episodes