Asking for a Friend - I know I need to save for college, but is a 529 plan the best place to save?

May 02, 2022

Q. I know I need to save for college, but is a 529 plan the best place to save?

A. The growing costs of college is one of the main concerns we hear from our clients with children; as you can see by the chart below, there is good reason for that concern.  

When it comes to where to save, we recommend that you diversify your college savings plan, just like we recommend that you diversify your retirement savings plan.  Here are some videos regarding 529 plans that might be of interest to you and the chart below provides you with ideas of the types of accounts you may have heard of for college savings.

• https://www.collegewell.com/collections/yes-you-can-open-multiple-529-plans/

• https://www.collegewell.com/collections/what-if-my-child-doesnt-go-to-college/

• https://www.collegewell.com/collections/529-savings-account-myth-debunked/

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