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10 Reasons to Save with Achieve Montana

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About Us

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About
Us

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10 Reasons to Save with Achieve Montana

[/vc_column_text][/vc_column][/vc_row][vc_row css=”.vc_custom_1616614742159{padding-bottom: 60px !important;}”][vc_column][vc_column_text css_animation=”fadeInUp”]Saving for your child’s future is essential, right? Right! Like all parents, you want what’s best for your child. You want them to be healthy, you want them to grow and flourish, and someday, when they are ready, you want them to go to college and have a bright, promising future. So, why haven’t you started saving yet?

Achieve Montana helps families like yours save for their child’s future education. The best part is that it is not too late to begin saving, but it is crucial to start. Here are ten great reasons to sign up today.[/vc_column_text][/vc_column][/vc_row][vc_row][vc_column][vc_column_text css_animation=”fadeInLeft”]

#10 Signing up is easy and convenient:

  • We provide easy online account enrollment and management.
  • For more information, call 877.486.9271 or visit www.achievemontana.com.

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#9 Setting up an account is affordable:

  • You may open an account for as little as $25 or $15 with payroll deduction, where available.
  • There are no annual account maintenance fees if you are a Montana resident.

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#8 The choice is all yours:

  • We offer a variety of investment options to meet your needs and goals.
  • Choose as many investment options as you prefer as long as 5% is allocated to each option.

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#7 You can save better because of tax advantages and more:

  • Account earnings grow deferred from both federal and state taxes.
  • Montanans get special tax benefits. Contributions are eligible for an annual income tax deduction.

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#6 Speaking of tax advantages:

  • Contributions may also qualify as tax free gifts of up to $160,000 per beneficiary in a single year.
  • Ready for college? You may withdraw free from federal and Montana state income tax when paying for eligible expenses.

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#5 Use it at any eligible school, anywhere:

  • Assets may be used towards the cost of almost any college, university, vocational school, or other postsecondary educational institution.
  • Your account may also be used for any graduate school, medical school, or law school.

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#4 Unused funds may be used for other eligible family members:

  • If a beneficiary chooses not to attend college, you may name another beneficiary within the same family.
  • You may appoint a child, adult, or even yourself as the beneficiary.

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#3 Reduce your reliance on student loans:

  • 529 plans help lower your need for financial aid than other savings options.
  • Relieve the burden of student loan debt for your child.

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#2 Everyone can help:

  • Anyone may contribute to the same Achieve Montana account.
  • Through the use of Ugift®, family and friends may send gift contributions too.

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The #1 reason to enroll in an Achieve Montana 529 plan:

  • The sooner you start, the more you’ll have!
  • An initial investment of $3,000 with monthly contributions of $200 for 18 years could total nearly $85,000 that your child has available to spend towards college.*

For more information about Achieve Montana, call 877.486.9271 or visit www.achievemontana.com.[/vc_column_text][/vc_column][/vc_row][vc_row][vc_column][vc_column_text css_animation=”fadeIn” css=”.vc_custom_1640735608207{padding-top: 20px !important;}”]

Disclaimer:

For more information about Achieve Montana, download an Enrollment Kit at achievemontana.com or call 877.486.9271. The Enrollment Kit includes a Program Description that discusses investment objectives, risks, charges, expenses, and other important information; read and consider it carefully before investing.

If you are not a Montana taxpayer, consider before investing whether your or the beneficiary’s home state offers any state tax or other benefits such as financial aid, scholarship funds, and protection from creditors that are only available for investments in that state’s qualified tuition program.

Except to the extent of the New York Life Insurance Company guarantee that is available for the Capital Preservation Portfolio and certain Year of Enrollment Portfolios, investment returns are not guaranteed, and you could lose money by investing in Achieve Montana.

Achieve Montana account owners who are Montana residents are entitled up to a yearly $3,000 deduction to adjusted gross income per taxpayer, in computing their Montana State income tax, or $6,000 for those married, filing jointly, based on contributions to Achieve Montana. Contributions may be subject to recapture in certain circumstances, such as a federal non-qualified withdrawal or withdrawals used to pay elementary or secondary school tuition, registered apprenticeship program expenses, qualified education loan repayments, or a withdrawal from an account that was opened within three years prior to the date of the withdrawal, as described in the Program Description (Recaptured Withdrawal). If the account owner is no longer a Montana resident at the time of a Recaptured Withdrawal, we may withhold the potential recapture tax from the Recaptured Withdrawal.

Individuals can invest up to $16,000 ($32,000 for married couples making a proper election) per beneficiary without incurring any federal gift-tax consequences provided no additional gifts are made to that beneficiary in the same year. In addition, maximum gifts are $80,000 per beneficiary in a single year ($160,000 for married couples making a proper election). If the donor does not survive the five years, a portion of the gift is returned to the taxable estate.

Earnings on non-qualified withdrawals are subject to federal income tax and may be subject to a 10% federal penalty tax, as well as state and local income taxes. The availability of tax or other benefits may be contingent on meeting other requirements. See the Program Description for more details on qualified expenses.

*This assumes an initial contribution of $3,000 and a hypothetical 6% return on investments. Calculations are based on bankrate.com/calculators/savings/simple-savings-calculator.aspx. Hypothetical results are for illustrative purposes only and are not meant to represent the past or future performance of an actual investment in any particular 529 plan or any taxes or penalties payable upon distribution.[/vc_column_text][/vc_column][/vc_row][vc_row][vc_column][vc_separator color=”custom” css_animation=”slideInUp” accent_color=”#b5b5b5″][/vc_column][/vc_row]

Make room under the tree for a 529 college savings plan.

The sounds of their little feet racing down the stairs. The giggles of excitement as they spot their name under the tree. The overwhelming joy they experience opening a gift bought just for them. As parents, the magic of Christmas isn’t found in the getting, but in the giving. So, why wait? This holiday season, light up their future with an Achieve Montana 529 college savings account. It may not be the biggest gift under the tree, but it’s sure to be the brightest! And it’ll certainly last longer than that box of toys.

Read More »
November 15, 2023 No Comments

Practical Ways to Save

When it comes to life, we love a good cheat sheet. And the same goes for college savings! While an Achieve Montana 529 savings account is the ultimate college savings tool (hello low minimums and tax-free withdrawals), it’s still just that – a tool. The true savings start with you! And with these practical savings tips, your journey can start today! Check out these quick and easy ways to get the most out of your 529 savings account.

Read More »
October 9, 2023 No Comments

529 Savings Myths: BUSTED!

There are a lot of misconceptions out there when it comes to opening a 529 savings plan. And, we get it! Setting aside money and intentionally planning for your child’s future (or even your own) can be intimidating. Heck, we’re intimidated even saying it! But the truth is that it doesn’t have to be.

Read More »
September 29, 2023 No Comments
For more information about Achieve Montana, call 877.486.9271 or download an Enrollment Kit. The Enrollment Kit includes a Program Description that discusses investment objectives, risks, charges, expenses, and other important information; read and consider it carefully before investing.
If you are not a Montana taxpayer, before investing in Achieve Montana, you should consider the benefits of your home state’s qualified tuition program. It may provide taxpayers with state tax and other benefits such as financial aid, scholarship funds and protection from creditors, that are only available through your home state’s qualified tuition program. You should also consult your financial, tax, or other advisor to learn how state-based benefits (or limitations) would apply to your specific circumstances. Tax and other penalties may apply to non-qualified withdrawals.
Keep in mind that state-based benefits should be one of many appropriately weighted factors to be considered when making an investment decision. In addition, you should periodically assess, and if appropriate, adjust your Section 529 Plan investment choices with your time horizon, risk tolerance and investment objectives in mind.
Achieve Montana is sponsored by the State of Montana and administered by the Montana Board of Regents of Higher Education, as sole trustee of the Montana Family Education Savings Trust (Trust). Ascensus College Savings Recordkeeping Services, LLC serves as program manager and provides recordkeeping and administrative support services for Achieve Montana. Blackrock Fund Advisors, Dimensional Fund Advisors LP, Charles Schwab Investment Management, Inc., New York Life Insurance Company and the Vanguard Group, Inc. each provide investment management services for the underlying investments comprising Achieve Montana’s portfolios. Although some of the portfolios invest in mutual funds, they are not mutual funds. When you invest in Achieve Montana, you are purchasing portfolio units issued by the Trust. Except to the extent of the New York Life Insurance Company guarantee that is available for the Capital Preservation Portfolio and certain Year of Enrollment Portfolios, investment returns are not guaranteed, and you could lose money by investing in Achieve Montana.
Account owners assume all investment risks as well as responsibility for any federal and state tax consequences.
Upromise is an optional service offered by Upromise, Inc., is separate from Achieve Montana, and is not affiliated with the State of Montana. Terms and conditions apply to the Upromise service. Participating companies, contribution levels, and terms and conditions are subject to change at any time without notice. Transfers from Upromise to an Achieve Montana account are subject to a $25 minimum. Go to upromise.com to learn more about Upromise.
Upromise and the Upromise logo are registered service marks of Upromise, Inc. Ugift is a registered service mark of Ascensus Broker Dealer Services, Inc., an affiliate of Ascensus College Savings Recordkeeping Services, LLC.
Vanguard is a registered mark of The Vanguard Group, Inc. All other trademarks, service marks or registered trademarks are the property of their respective owners. Used with permission.