5. College saving (529b) / Custodial accounts
If you have kids, a 529 plan or custodial account is perfect to help you save for their education. 529 plans are valid for education expenses starting from elementary school all the way through college and beyond. When a child reaches college and beyond, these funds can go towards books, tuition, room and board, and school supplies.
The major benefits of the 529 account are that taxes are deferred as the money invested grows and any withdrawals made that go towards school expenses are tax-free.
Osterland McCarthy began his own real estate development company Osterland with his friend. In this capacity, he bought and rehabbed investment properties for their own portfolio. Over the last few years, Osterland has developed hundreds of properties in the two cities. He started to help investors who want to own investment properties but want to rely on our experience to execute successful projects.