Invest America Act Accounts:
The Invest America Act is designed to help families jumpstart savings for education. When you open a new account, you’re immediately eligible for $1,000 in bonus funds. These accounts often allow contributions to grow tax-free, and some programs offer low fees and flexible investment options. The key advantage is the instant $1,000, which is essentially free money that can be invested for your child’s future.
Dell Accounts:
Dell also offers a smaller but significant $250 bonus for opening a new account. While the funds may not be as large as the Invest America Act bonus, this is still a valuable way to start a college savings plan without using your own money upfront.
Comparison to 529 Plans:
529 plans are the traditional choice for education savings and offer tax-free growth and tax-free withdrawals when used for qualified education expenses. However, unlike the Invest America Act or Dell accounts, 529 plans typically do not provide immediate cash bonuses just for opening an account. 529 plans may also have state-specific benefits, such as tax deductions for contributions in some states, but they tend to have less flexibility in how funds are used compared to some bonus accounts.
Considerations:
Liquidity: Bonus accounts may allow more flexible withdrawals, while 529 plans penalize non-qualified withdrawals.
Investment options: 529 plans usually offer preset investment portfolios, whereas bonus accounts may allow for more customized investment strategies.
Long-term growth: Both account types can grow tax-free for education, but the initial bonus gives Invest America Act and Dell accounts a head start.
Now Is the Time To Jump On This:
These free money opportunities won’t last forever. If you want to claim your $1,000 Invest America Act bonus or $250 Dell bonus, or if you’d like to compare them directly to a 529 plan for your family, contact us today. We can help you understand the rules, evaluate your options, and start your child’s education savings plan the smart way.
Unlock Free Money for Your Child’s Future – Invest America Act & Dell Accounts vs. 529 Plans
Claim $1,000 Free with Invest America Act & $250 Free from Dell for Newly Opened Accounts
At Loudon Taxes, we help families in East Tennessee maximize every opportunity to save for their children’s education. Right now, there are two limited-time programs offering free money just for opening accounts: $1,000 for newly opened Invest America Act accounts (currently known as Trump accounts) and $250 for new Dell accounts. Understanding these programs—and how they compare to traditional 529 plans—can help you make the best financial choice for your family.
Top 5 Facts You Need to Know:
Immediate bonus: Open a new Invest America Act account and receive $1,000 free, while Dell accounts offer $250 free.
No contribution required upfront: You don’t need to deposit large sums to claim the bonus.
Flexible usage: Unlike 529 plans, these accounts can sometimes be used for a wider range of education-related expenses.
Investment growth potential: Funds in Invest America Act accounts can grow tax-free, similar to 529 plans, depending on account rules.
Limited-time offers: These programs are for newly opened accounts only and may expire, so acting quickly is essential.