7467 State Route 22
New Alexandria, PA 15670
Office: (724) 668-7900
Fax: (724) 668-8083

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Education Funding

You focus on helping your child excel and we will help you fund their education. Paying for a child’s education is a major objective for most families. It is also a major obstacle to staying on track financially when an appropriate financial plan is not in place.

At Mosaic, we are experienced in helping you plan for your child’s education, whether it is college or university tomorrow or private school today.

Our strategies involve a wide range of options and are based on modeling the projected cost of education in coming years or even decades. Just a sampling of the topics we will discuss include:

Coverdell Education Savings Accounts

Let us review your eligibility and discuss the possible advantages of this account, which allows your contributions to grow tax-deferred and be withdrawn tax-free when used to pay for qualified education expenses.

529 Plans

We will examine a wide range of different states’ plans and discuss the tax advantages of these popular plans to decide if a 529 plan an appropriate choice for you. Any earnings generated will be federal (and possibly state) income-tax free as long as withrawals are used for qualified higher education expenses.

Roth IRA

Depending on your income and eligibility, a Roth IRA may be an appropriate option for financing your child’s education. Contributions grow tax-deferred and earnings may be tax-free and can be used for other purposes than college.

Custodial Accounts

This non-educational account (and irrevocable gift) can bring additional opportunities to the family.

 

  • For Coverdell Education Savings Accounts, the earnings portion of distributions that are usded for non-qualified education expenses are subject to ordinary income tax, plus a 10% penalty.
  • Section 528 plans are established by various states and offered to residents of all states. Depending on the laws of the cutomer’s home state, favorable tax treatment may be limited to investments made in a Section 529 plan offered by the customer’s home state.
  • Qualified earnings withdrawals from a Roth IRA account are not subject to income tax, provided you’re at least 59 1/2 and you’ve held the account for five years.

***It is not our position to offer legal or tax advice. Consult a legal or tax advisor regarding this information as it relate to your personal circumstances.

Donald McDade, David Estatico, Scott Lauer, Daniel Stephans and Ronald Romeo are registered representatives of Lincoln Financial Advisors Corp.  Securities and investment advisory services offered through Lincoln Financial Advisors Corp., a broker/dealer (member SIPC) and registered investment advisor. Insurance offered through Lincoln affiliates and other fine companies. It is not our position to offer legal or tax advice. Mosaic Wealth Consulting is not an affiliate of Lincoln Financial Advisors Corp CRN-3170387-072120.

Unless otherwise identified, registered associates on this website are registered representatives of Lincoln Financial Advisors Corp. Securities offered through Lincoln Financial Advisors Corp., a broker/dealer (member SIPC). Investment advisory services offered through Lincoln Financial Advisors Corp. or Sagemark Consulting, a division of Lincoln Financial Advisors Corp. a registered investment advisory. Insurance offered through Lincoln affiliates and other fine companies and state variations thereof. Lincoln Financial Group is the marketing name for Lincoln National Corporation and its affiliates. Firm disclosure information available at www.LFG.com.

We are licensed to sell Insurance Products in the following states: Alabama, Arizona, Florida, Georgia, Kentucky, Maryland, Missouri, North Carolina, New York, Ohio, Pennsylvania, South Carolina, Texas, Virginia, West Virginia, Wyoming.

We are registered to sell Securities in the following states: Alabama, Arizona, California, Colorado, District of Columbia, Florida, Georgia, Hawaii, Illinois, Kentucky, Maryland, Michigan, North Carolina, New Jersey, New York, Ohio, Pennsylvania, South Carolina, Texas, Utah, Virginia, Washington, West Virginia, Wyoming.

*Mosaic Employee Benefits is a separate entity and is not affiliated with Lincoln Financial Advisors Corp.

Not all registered representatives with our firm are able to offer advisory services.
 
See Lincoln Financial Advisors (LFA’s) Form CRS Customer Relationship Summary, available here, for succinct information about the relationships and services LFA offers to retail investors, related fees and costs, specified conflicts of interest, standards of conduct, and disciplinary history, among other things. LFA’s Forms ADV, Part 2A, which describe LFA’s investment advisory services, Regulation Best Interest Disclosure Document, which describes LFA’s broker-dealer services, and other client disclosure documents can be found here.
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