Your son or daughter will be swapping diapers for a mortarboard and tassel before you know it. Funding their education will be much more of a challenge than what you and your parents faced.

In the last ten years, the cost of a college education jumped a stunning 40% with no signs of slowing down. Investing diligently in your child’s educational future will require preparedness, understanding and guidance.

While many plans exist, the buzz about 529 plans is newsworthy. The tax benefits of investing in a 529 for your child put it near the top of the list in paying the educational costs for future scholars. It is anticipated that Americans will invest in the neighborhood of 200 billion dollars in 529 educational plans by the year 2007, an 800% increase from 2002.

The IRS allows investments into 529 plans to work similarly to investments into a 401k. The plan comes with few limitations and can be set up for any child by anyone in the family. There are numerous choices that vary depending on your ability to contribute financially, your child’s age, anticipated needs and the amount of risk with which you are comfortable.

Seeking guidance as you prepare to invest in your child’s educational future will prove to be beneficial. A qualified advisor brings not only an understanding of the potential educational plans available to you, but years of experience from helping other clients in similar situations.

The experience, knowledge, and perspective can help you develop a dynamic investment plan that will not only meet the anticipated expenses of a growing college tuition rate, but save you thousands in tax benefits, reduced fees and provide the piece of mind in knowing that your child’s educational future is secure.