develop a savings plan by surfing the Web!
In our first Start Now! newsletter in 1992, we showed you how to build a college savings plan. We provided numerous tables and step-by-step instructions to help you calculate a savings target to meet your college financing goals.
Although the process for doing this hasn't changed since 1992, the tools available to help you through the process have. Various sites on the World Wide Web now offer online calculators that compute the necessary numbers.
Below is a step-by-step description of using the Web to help you calculate a college savings target. If you're new to the Web, don't worry -- our instructions tell you exactly where to go, what to click, and which data to provide.
There's an added plus to using the Web for your calculations. You'll not only be able to complete your figuring online, but you'll become familiar with some very helpful Web sites that offer much more than just financial calculators. (And you might even figure out some interesting variations on the process we describe below.)
Enjoy!
The tax information herein is not intended to be used, and cannot be used by any taxpayer, for the purpose of avoiding tax penalties. It was written to support the promotion of the Vermont Higher Education Investment Plan. Taxpayers should seek advice based on their own particular circumstances from an independent tax advisor.
Consider the investment objectives, risks, charges and expenses before investing in the Vermont Higher Education Investment Plan. For details on the Managed Allocation Option, 100% Equity Option, and the Interest Income Option, refer to the Disclosure Booklet (PDF). Read the information carefully.
Before investing in a 529 plan, you should consider whether the state you or your designated beneficiary reside in or have taxable income in has a 529 plan that offers favorable state income tax or other benefits that are only available if you invest in that state's 529 plan.
TIAA-CREF Individual & Institutional Services, LLC member NASD and SIPC distribute securities products.
The State of Vermont, VSAC, TFI, Teachers Insurance and Annuity Association of America and its affiliates do not insure any Account or guarantee its principal or investment return. Account value will fluctuate based upon a number of factors, including general financial market conditions.
