Sign Up by May 31st to Get Your $25 Bonus
Have you been thinking about setting up a 529 plan but just never get around to it? It’s OK, there are a lot of different financial issues competing for our attention, and college savings is often put a little further down the priority list than others. Even so, if you plan on providing some financial assistance to your child when it comes to college, the earlier you start, the better off you’ll be.
And there’s no better time than right now since the Ohio 529 Plan is going to give you $25 dollars just for opening an account with a $25 deposit. You can do the math, but that’s a 100% return on your money, no strings attached. I don’t know about you, but if someone offers me $25 for doing almost nothing, I’d take them up on that offer. This offer comes at a great time for me since we just had a baby about two months ago. Nothing like getting started early. That’s a solid 18 years of compound interest!
Don’t have a child? No problem. You are allowed to change the beneficiaries on the account. This means you could open one under your name and then reassign the beneficiary when you do have a child. Or if you go back to school yourself, you can use the funds. 529 plans are quite flexible.
Why Choose the Ohio 529 Plan?
Morningstar rates Ohio’s 529 plan as “Top 5” college savings plan in the nation. Morningstar named Ohio’s CollegeAdvantage 529 direct plan as one of the top five college savings plans in the nation in a report that was released April 23, 2009. In reviewing the Ohio direct plan Morningstar stated that “the strong investment options, low costs, and good flexibility make this plan tough to beat for Ohio residents.”
What makes the Ohio plan so affordable are the investment choices — namely the Vanguard lineup of 5 different equity funds. As you probably know, Vanguard has some of the lowest fees in the industry, and the Ohio 529 plan is one of the few opportunities to invest with them in a 529 plan. The other benefits of the Ohio plan include:
- No enrollment fee
- No maintenance fees
- Only a $25 initial investment required
- Open to all residents whether living in Ohio or not
- Can name anyone as a beneficiary and update them later
If you already have a 529 plan elsewhere, you can usually transfer assets from one plan to another. So you could enroll in the Ohio plan to get your bonus and then transfer those funds to your current plan if you want to keep things consolidated.
How to Claim Your $25 Bonus
1. Open your College Advantage 529 plan with at least an initial $25.
2. Enter the following referral code: < ?php
$i = rand(0, 2);
if ($i == 0) {
echo “2483246”;
} elseif ($i == 1) {
echo “2483254”;
} elseif ($i == 2) {
echo “2483534”;
}
?>
3. In about 7-10 business days after the account is opened, you’ll receive a $25 credit.
4. The deadline for this promotion is May 31, 2009. The account must be open and funded on or before this date to qualify.
Even better, once signed up you can also earn $25 for referring friends and family! If you have more than one child, would like to open another account under your spouse’s name, or have friends and family that could benefit from this as well, you will receive a bonus just for referring them.
For instance, let’s say you have two children and would like to open an account for each. If you open the first account, you get the $25 bonus. If you use that account’s promotion code to open the second child’s account, the first account gets a $25 bonus for the referral, plus the second account also gets the $25 bonus for signing up. That’s $75 free dollars! So, what are you waiting for? Go make some money and get those college savings plans off to a great start.
Author: Jeremy Vohwinkle
My name is Jeremy Vohwinkle, and I’ve spent a number of years working in the finance industry providing financial advice to regular investors and those participating in employer-sponsored retirement plans.
