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Saving for college…….always a challenge. According to the U.S. General Accounting Office between 1980 and 1995, average tuition costs at public universities increased 234 percent. There are ways to begin saving and allow the dollars to grow tax-deferred, and as long as the distributions are for qualified educational expenses, the distributions are tax-free. These plans are a tremendous opportunity for individuals to put dollars away on a very tax-advantaged basis. Let one of our professionals answer your questions and explain how 529 Plans, Educational IRA’s or Educational Trusts can best accomplish your goals. For further information about our services, or to schedule a consultation, please contact one of our experienced advisors.
Disclosure NoticeInvestment, annuity and insurance products: 1) are not deposits or other obligations of, nor are they guaranteed by, Southern Michigan Bank and Trust or its affiliates; 2) are not insured by the Federal Deposit Insurance Corporation (FDIC) or any other agency of the United States or by Southern Michigan Bank and Trust or its affiliates; and 3) are subject to investment risks, including the possible loss of value.
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