Skip to content
  • O: 216.292.0165
  • TF: 866.269.0319
  • F: 216.292.1871
Feel free to reach out.
  • Home
  • Our Team
    • Our Team
    • Adam Ours
    • John Koch
    • Padma Jambunath
    • Jeffrey Danzinger
    • Sasha Delic-Milanovic
    • Betsy Margolin
    • What Makes Us Different
    • About Raymond James
    • Choosing Raymond James
  • Who We Serve
    • Who We Serve
    • Business Owners
    • Corporate Executives
    • Families & Individuals
    • Family Offices
    • Pre-Retirees
    • Retirees
  • Our Difference
    • Our Difference
    • Our Approach
    • Alternative Investments
    • Banking & Lending Solutions
    • Education Planning
    • Estate, Charitable Giving & Trust
    • Financial Planning
    • Fixed Income Services
    • Investment Management
    • Portfolio Management
    • Retirement Planning
    • Risk Management
  • Resources
    • Resources
    • Client Access Videos
    • Worthwhile
  • Contact Us
    • Contact Us
    • Refer Us
  • Client Access
    • Client Access
      • Forgot your password?
      • Enroll
      • Need Help?
      • Contact Us / FAQ
      • Privacy / Security
      • Client Resources
  • ClevelandBeachwd-36D
    3201 Enterprise Pkwy., Suite 240 Beachwood, OH 44122-7320 O: 216.292.0165 TF: 866.269.0319 F: 216.292.1871
    Map and Directions Map and Directions
DKO Private WealthDKO Private Wealth

Planning for a child’s future

Planning for a child’s future

Supporting a child’s education can be one of the most rewarding aspects of success and one of the most important elements in your financial plan. With rising inflation and the high cost of education, planning to contribute to another’s higher education may require an early start.

There are a variety of investment vehicles and tax-efficient options to contribute to the cost of higher education. As your trusted partner, our knowledge and professional guidance can help you analyze the tax benefits, ownership structure, risk and contribution limits involved – even what to do with your leftover education funds if your aspiring academic earns a scholarship.

  • When you invest in potential, you’ll do more than help make the dream of education possible for a student in your life. You could provide the inspiration for a legacy of higher learning that’s passed on for generations to come. What’s more, the funds you contribute have the ability to grow tax-deferred, and eventually be withdrawn, tax-free.*

    Working together, we choose the investment strategy that is right for you and your student, keeping in mind that generous contribution limits do exist, regardless of income level.

    *Certain conditions may apply. Earnings in 529 plans are not subject to federal tax, and in most cases, state tax, so long as you use withdrawals for eligible education expenses, such as tuition and room and board. However, if you withdraw money from a 529 plan and do not use it on an eligible education expense, you generally will be subject to income tax and an additional 10% federal tax penalty on earnings. Investors should consider before investing, whether the investor’s or the designated beneficiary’s home state offers state tax or other benefits only available for investments in such state’s 529 savings plan. Such benefits include financial aid, scholarship funds, and protection from creditors. 529 plans offered outside their resident state may not provide the same tax benefits as those offered within their state.

  • Although UGMA and UTMA accounts are not designed specifically for college savings, they offer advantages including multiple investment options, limited tax benefits and the ability for a parent to transfer assets to a child without needing to establish a more costly trust. However, contributions to the accounts are irrevocable and parents lose control of the funds when the child becomes 18 - 21 – an age that may vary by state. We help you navigate these considerations, providing solutions tailored to your funding needs.

related resources

Can homeschooling and a full-time job co-exist?

Can homeschooling and a full-time job co-exist?

Juggling schoolbooks and paychecks isn’t for the faint of heart, but can be a rewarding endeavor with the right expectations and support.
Read

Family & Lifestyle
Infographic: College majors for bright futures and lucrative careers

Infographic: College majors for bright futures and lucrative careers

Take a glimpse into the most popular industries among college students to offer insight into what might be the most attractive fields today.
View

Family & Lifestyle
The five most popular methods for funding education

The five most popular methods for funding education

Know which options work best for you and plan early.
Read

Family & Lifestyle
Saving for K-12 education with a 529 plan

Saving for K-12 education with a 529 plan

Learn about using 529 plans for more than just college savings.
Read

Family & Lifestyle
Comparing SBLs and student loans to cover tuition

Comparing SBLs and student loans to cover tuition

You’ve likely heard of student loans and 529 plans to cover tuition costs. But there’s another innovative option worth considering.
Read

Family & Lifestyle
Always here for you
DKO Private WealthDKO Private Wealth
  • 3201 Enterprise Pkwy., Suite 240 Beachwood, OH 44122-7320
  • O 216.292.0165
  • TF 866.269.0319
  • F 216.292.1871
  • Map & Directions
  • Map & Directions

Raymond James financial advisors may only conduct business with residents of the states and/or jurisdictions for which they are properly registered. Therefore, a response to a request for information may be delayed. Please note that not all of the investments and services mentioned are available in every state. Investors outside of the United States are subject to securities and tax regulations within their applicable jurisdictions that are not addressed on this site. Contact our office for information and availability.


Links are being provided for information purposes only. Raymond James is not affiliated with and does not endorse, authorize or sponsor any of the listed websites or their respective sponsors. Raymond James is not responsible for the content of any website or the collection or use of information regarding any website's users and/or members.

© 2025 Raymond James & Associates, Inc., member New York Stock Exchange / SIPC    |   Legal Disclosures   |   Privacy, Security & Account Protection   |   Terms of Use

 

Raymond James financial advisors may only conduct business with residents of the states and/or jurisdictions for which they are properly registered. Therefore, a response to a request for information may be delayed. Please note that not all of the investments and services mentioned are available in every state. Investors outside of the United States are subject to securities and tax regulations within their applicable jurisdictions that are not addressed on this site. Contact our office for information and availability.

Links are being provided for information purposes only. Raymond James is not affiliated with and does not endorse, authorize or sponsor any of the listed websites or their respective sponsors. Raymond James is not responsible for the content of any website or the collection or use of information regarding any website's users and/or members.

© 2024 Raymond James & Associates, Inc., member New York Stock Exchange / SIPC | Legal Disclosures | Privacy, Security & Account Protection | Terms of Use