I finally got my butt in gear and got the 529 plans set up my 3 year old twins. I had been investing $100 a month in a Janus mutual fund years before I even had children. I will stop the contribution to that and divide that $100 into the two 529 plans from Fidelity investments. We have been contributing into a 529 into my 6 yr son's plan for years now.
What is a 529 Plan?
529 Plan accounts are flexible accounts specifically designed for college savings. Qualified distributions from a 529 Plan account are federal income tax-free1. The plans were named after Section 529 of the IRS code that created them.
What steps are you taking to plan for your children's college costs? Do you think parents should pay for college? Or should little Johnnie pay for his college tutition?
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