Ivy Funds - Coverdell Education Savings Accounts

Coverdell Education Savings Accounts

The Coverdell Education Savings Account is a strong option for college savings. This includes elementary and secondary school expenses -- a special bonus.

The Coverdell Education Savings Account is a savings plan for education purposes. Similar to the Roth IRAs, contributions are not tax-deductible. However, investment earnings can grow without accruing income tax liabilities.

Coverdell ESA Benefits

Coverdell ESAs allow you to invest $2,000 per year per child, up to age 18, to save for educational expenses.
The amount you contribute doesn't limit your contributions to retirement plans. However, allowable contributions are phased out for people with higher incomes, beginning at $95,000 for single filers and $190,000 for married filers.
Grandparents and other family members can set up Coverdell ESAs in your child's name.
The funds can be used to cover costs associated with attending elementary or secondary school, be it public, private or religious. Covered costs include uniforms, computers and transportation.

Past performance is no guarantee of future results. The Ivy Funds are managed by Ivy Investment Management Company and distributed by its subsidiary, Ivy Funds Distributor, Inc. Waddell & Reed Financial, Inc., the ultimate parent company of Ivy Funds Distributor, Inc., acquired the investment advisor to the Ivy Funds in December 2002.

The products and services described in this website are offered only in the United States, Puerto Rico and the U.S. Virgin Islands. Nothing in this website should be considered a solicitation to buy or an offer to sell such products and services in any jurisdiction where the offer or solicitation would be unlawful under the laws of such jurisdiction. Ivy Funds distributed by Ivy Funds Distributor, Inc. and Waddell & Reed InvestEd Portfolios distributed by Waddell & Reed, Inc. are offered by prospectus only.

Investors should consider the investment objectives, risks, charges and expenses of a fund carefully before investing. For a prospectus containing this and other information for the Ivy Funds, call your financial advisor or click here. Please read the prospectus carefully before investing.