Bright Start 529
If you are living in Illinois and are interested in a 529 plan to save for your child's future college, the the IL 529 plan is your best option. You get state tax breaks and you have low fee index funds as your investment options. The next step is to open an account.
Instructions
1. You can open an IL 529 Direct Sold plan account in one of three ways:
* Enroll online
* Download and mail in an enrollment form
* Order an enrollment kit
This article explains enroll online
2. Go to https://www.brightstartsavings.com and click on enroll online. On the first page select individual and enter your kid's details. Click next step and enter your details. Click next step
3. For your first contribution the easiest option is direct deposit from your bank account. Enter the minimum $25. You do not have to set up repeat contributions right now, you can do it later once you have opened your account. On the next page enter your bank details
4. For investment options the best option I think is the Index age based portfolio. It is a one in all fund which becomes more conservative as your child grows. On the next screen enter online access information, verify and confirm. Congratulations you have opened your account.
5. Once your account is open, you can log in and maintain the following
* Change your beneficiary
* Create/ Change your bank account for direct deposit
* Change future investment options
* Set up a one time or Automatic contribution / investment plan
Tags: enter your, investment options, next step, your account, your bank, bank account