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Episode 2752:
Explore the essential steps for opening a 529 college savings plan, guided by Caitlin See from StudentLoanPlanner.com. Discover the advantages of different state plans, tax benefits, and investment options to tailor a plan that best suits your family's educational and financial goals.
Read along with the original article(s) here: https://www.studentloanplanner.com/how-to-open-529-plan/
Quotes to ponder:
"Each state offers its own 529 plan, with the exception of Wyoming. But that doesn’t mean you’re limited to choosing your own state’s plan."
"Age-based portfolios are the most common 529 plan investment option because they take the guesswork out of investing."
"Depending on where you live, you’ll need to determine if you’re required to use a 529 plan specific to your state in order to claim its tax benefit."
Episode references:
College Savings Plans Network: https://www.collegesavings.org/
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Optimal Finance Daily - Financial Independence and Money Advice