Why you need an Education Savings Plan
As parents, there are lots of things we want for our children. We have dreams for them from the moment they are born. We hope they will have a happy life, a fulfilling job and plenty of great opportunities during their lifetime.
As a number of studies have shown primary and secondary education costs have increased enormously, with preschool and primary education almost doubling in cost, and secondary education more than doubling in cost in the last 7 years and of course the cost of University.
Unlike other Educations Savings Plans what our Education Savings Plan offers is:
Affordable: It is easy to make small regular contributions
Tax effective: Tax is paid within the Bond, so tax is capped at a maximum of 30% and does not affect the owner’s taxable income
Flexibility: If the money is not used for education it can be used for any other purpose
Transferable: A Bond can be transferred to a child at their “vesting age” without capital gains tax
Simple: It is easy to set up a Bond and set a regular savings plan without worrying about taxation each year
With advice from Wealthplus Solutions we can help you alleviate the financial burden of educating your child by starting an Education Savings Plan now.