Colorado CollegeInvest 529 PlansColorado offers several different options under their 529 College Savings Plan. As long as the funds are used for approved educational purposes, the funds will be both state and federal tax free. Additionally, when you fund one of the CollegeInvest plans, you can deduct the amount deposited from your Colorado state income.
Colorado Direct Portfolio College Savings PlanSM This plan can be purchased directly through CollegeInvest and allows investments in equities, fixed income and money markets. The Vanguard Group is in charge of investing and they offer 11 different options to choose from, including a few age-group options that will be tailored to the age of the beneficiary and eight different options which allow you to choose the blend of your investments, making them more cautious or aggressive, as you see fit.
Scholars Choice College Savings ProgramSM Should you feel more comfortable investing through a financial advisor, the Scholars Choice Program may be for you. Managed by Legg Mason Global Asset Allocation, LLC, the plan allows for both age group allocations and other investment options to allow you to move assets more aggressively or conservatively as you want.
Smart Choice College Savings PlanSM FirstBank runs the Smart Choice plan and gives you the option of a Money Market investment or a one year time deposit.
Stable Value Plus College Savings PlanSM If you prefer, the Stable Value option is designed to protect your principal and pays a guaranteed interest rate on your funds. These rates are set each year to take effect on January 1.
You should also check with a financial advisor and tax advisor to see if a 529 investment is right for you.
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