529 College Savings Plans
A 529 plan offers tax-free growth and tax-free withdrawals for qualified education expenses. Many states also offer state income tax deductions for contributions. Start early to maximize the power of compound growth.
Tips for College Savings
Even small monthly contributions add up over 18 years. Encourage grandparents and family to contribute for birthdays and holidays. Consider an age-based investment portfolio that automatically becomes more conservative as college approaches.