Abacoa & Alton Neighbors - January 2022

J a n u a r y 2 0 2 2 | Abacoa &Alton N E I G H B O R S 11 generally state*and federal tax-free so long as they're used for qualified educational expenses. If you're looking to contribute to their children's or grandchildren's futures, you can gift a cash investment to a retirement account like a ROTH IRA. These IRAs are funded with after-tax monies but grow tax deferred, also. STOCKS You might want to share a slice of your stock portfolio. Gifting shares of stock can be both a part of your wealth transfer strategy and help loved ones create a nest egg with the potential for long-term growth. SAVINGS ACCOUNT CONTRIBUTIONS Investing in a loved one's future can be as simple as a cash gift made to a savings account. You can gift cash directly into a savings account. Money gifted today can grow with tax-deferred benefits, helping your loved ones take advantage of the power of compound interest. As with any investment-related gift, be sure to speak with a Synovus Securities financial advisor about topics such as annual limits and any potential tax implications. Find more investment tips at synovus.com/personal/ resource-center *You will want to find out what plan the state of Florida offers to see how purchasing that plan may provide additional benefits. You will also want to speak with your tax advisor to find out how investing in a 529 plan could affect your personal tax situation. Products and services are offered through Synovus Securities, Inc., member FINRA/SIPC and an SEC Registered Advisor. Synovus Securities does not provide professional tax advice. You should consult your tax advisor for specific questions regarding your own tax situation. • Not FDIC Insured • May Lose Value • No Bank Guarantee     FREE       Schedule your personalized experience today! ALF# 13037 HarborChase.com 3000 Central Gardens Circle Palm Beach Gardens, FL 33418 (561) 839-1855 Palm Beach Gardens Exceptional Memory Care