You have financial goals – like ensuring you have adequate life insurance in the event of the death of your loved one or your plan for a comfortable retirement. But for many, being able to pay for your children’s or grandchildren’s college education is an even more urgent goal.

Unfortunately, college costs are constantly rising. The longer you wait to start saving for college, the more it could cost you in the end because the cost of taking out loans to close the gap will be far more than it would be if you had started a savings plan early.

There are several options available to help you prepare for this important milestone, including 529 plans. LPSCU, in partnership with Morgan Stanley’s Bush Natishan Group and Nuveen, is now offering to waive the sales charge to LPSCU members.

And with the passage of the SECURE 2.0 Act, 529 accounts may be able to roll over their leftover 529 plan assets to a Roth IRA – for a designated beneficiary – making 529 plans an even more robust solution for long-term financial planning.