Mon, May 19, 2025
Sun, May 18, 2025
Sat, May 17, 2025
Fri, May 16, 2025
Thu, May 15, 2025
[ Thu, May 15th ]: fox6now
Expert travel advice
Wed, May 14, 2025
Tue, May 13, 2025
Mon, May 12, 2025
[ Mon, May 12th ]: WSAZ
Scenic summer travel
Sun, May 11, 2025
Sat, May 10, 2025

Should you have a 529 college savings plan? What to know


  Copy link into your clipboard //travel-leisure.news-articles.net/content/2025/ .. ave-a-529-college-savings-plan-what-to-know.html
  Print publication without navigation Published in Travel and Leisure on by Fortune
          🞛 This publication is a summary or evaluation of another publication 🞛 This publication contains editorial commentary or bias from the source


  It's never too early to start saving for college on behalf of a child, grandchild, or other loved one.

A 529 savings plan is a tax-advantaged investment account designed to help families save for future education expenses, including college, K-12 tuition, and apprenticeship programs. These plans, available in two types—prepaid tuition plans and education savings plans—allow earnings to grow tax-free and qualified withdrawals to be made tax-free as well. Managed by states, often in partnership with financial firms, 529 plans offer various investment options, typically including age-based portfolios that automatically adjust to become more conservative as the beneficiary approaches college age. While contributions are not deductible on federal taxes, some states offer tax benefits for residents contributing to their home state's plan. Additionally, 529 plans have high contribution limits, flexible beneficiary changes, and can impact financial aid eligibility, making them a versatile tool for educational funding.

Read the Full Fortune Article at:
[ https://fortune.com/article/how-529-savings-plans-work/ ]

Publication Contributing Sources