Allstate(R) - Christopher Buford

	Christopher Buford		(704) 941-8107
	Allstate Personal Financial Representative

Allstate Products / Education Savings

Education Savings

An early start on saving for education puts the power of time and tax-deferred compounding to work for you. Allstate offers tax-advantaged education investment products including state-sponsored college savings plans and education savings accounts. The money in these savings programs can pay for qualified education costs, including tuition and fees, room and board, and supplies and books. In most cases, you can contribute as little or as much as you want and choose how your money is invested. I can assist you in developing a savings strategy to help you achieve your education funding goals.

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Coverdell Education Savings Accounts

Formerly called the Education IRA, this tax-advantaged educational savings account is held in a child’s name and allows investment choices such as stocks, bonds, mutual funds and certificates of deposit (CDs). The earnings on savings accumulate tax free, with no taxes upon withdrawal when the money is used for qualified elementary school (K-12) and higher education expenses. Contributions are limited to $2,000 per year per beneficiary. Once the beneficiary turns 18 years of age, contributions can no longer be made to the account.

529 College Savings Plans

These state-sponsored and administered programs, named after Section 529 of the Internal Revenue Code, help parents and other relatives save and pay for future higher education costs for children. Every state offers a 529 plan available to residents and nonresidents alike. Earnings and distributions are federally tax free if used for qualified higher education expenses.

How can an Allstate Personal Financial Representative help?

I have the experience to help you define your financial goals and create an effective way to achieve them. If you would like to discuss Education Savings, call me at (704) 941-8107

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Find out how to include Education Savings in your financial plan. An Allstate Personal Financial Representative can help you explore your product options.

Begin securing your financial future today.

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What will it take to save for college?

Annual college costs
Years of college
Years until college
Current savings
Monthly savings
Rate you earn
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Education Savings Investment Options

Starting Your Education Savings Plan

529 college savings plans vary by state, including contribution limits, state tax advantages, investment options and fees and expenses. You should carefully consider, before investing, whether your or the designated beneficiary's home state offers any state tax or other benefits that are only available for investments in such state's 529 college savings plan. Investment in 529 college savings plans grows tax-deferred, and distributions, if used for qualified higher education expenses, are federal tax-free. Please note that tax-free withdrawals for qualified higher education expenses are set to expire in 2011 unless the law is extended by Congress. Nonqualified withdrawals are subject to current ordinary income taxes and may be subject to an additional 10% federal tax penalty. Tax laws are subject to change and contributions and earnings may not be adequate to meet future educational expenses. Participation in a 529 college savings plan does not guarantee that contributions and earnings will be adequate to cover your child’s future college costs.

Allstate does not provide tax advice. Please consult your tax advisor for specific information.

Christopher Buford is licensed to sell Allstate insurance products only in the state(s) of NC and SC. The material contained in this Web site is applicable only in the state of NC. If you do not reside in the state(s) of NC and SC, please go to the Find an Agent section on allstate.com to search for another Allstate representative.

This material is intended for educational purposes only. Allstate, through its insurance companies, subsidiaries, and brokers/dealers, offers a variety of products including life insurance and registered securities. Certain products, such as variable annuities, variable universal life insurance, mutual funds and 529 Plans, are available only through securities licensed representatives, and sales material must be accompanied by a prospectus. Life insurance and fixed annuity products are available from Allstate Life Insurance Company: Home Office, Northbrook, IL., and Lincoln Benefit Life Company: Home Office, Lincoln, NE. Securities offered by Personal Financial Representatives through Allstate Financial Services, LLC. Registered Broker-Dealer, Member NASD, SIPC. Main Office: 2920 South 84th Street, Lincoln, NE 68506. 877-525-5727.

Banking products offered through Allstate Bank, Member FDIC. Other products sold by Allstate are not insured by the FDIC, are not a deposit or other obligation of or guaranteed by Allstate Bank, and may be subject to investment risks, including possible loss of principal amount invested.

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(03/15/2006)