529 Plans: Educate Yourself Before You Invest
by John Gannon
We all want to get our money’s worth. This is true when it comes to paying for a college education—but it’s also true when it comes to investing for higher education.
Since 1997, investors have had the opportunity to contribute to Section 529 college savings plans, which offer tax advantages that have made them a popular investment vehicle for saving for college. The good news is that there is no shortage of college savings plans to choose from—especially given the fact that in many cases you do not need to be a resident of a state to invest in that state’s college savings plan.
However, selections should be made with care. Virtually no two plans are the same. Doing your 529 homework is essential because:
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