529 Plans: Educate Yourself Before You Invest
by John Gannon
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 states college savings plan.
In this article
- What Are 529 Plans?
- How Plans Are Sold
- State Tax Advantages Vary
- Compare Fees and Expenses
- Be Alert to Share Class Costs
- 8 Key Lessons
- Consider a Variety of Options
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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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