2 thoughts on “529 college savings plan”

  1. I did not know there were accounts that existed for grandparents to invest in their grandchildren’s future. It is an eye opener how many opportunities there are to reduce the cost of education for a future generation. Is there a similar program for parents? Would there be high taxing on having a certain amount of money saved for their education. I do not have kids, but it is important to keep in mind for when the time comes to start saving early for their education.

    1. Ricardo,
      529 programs are for parents and grandparents.
      Now for employees, the company you work for may have a 401k plan in which you can save and many times the company will match your savings. That is a great feature.
      There is also Individual Retirement Account (IRA) that can be used for savings. The younger one starts saving, especially in a tax deferred plan such as 401k, IRA, Roth IRA, the greater the amount of money you will have after many years of compounding gains. The important thing here is TIME. You got to give it enough time to growth. Please see the savings history of Robert and Sally and you will be surprised. (I know now is requiring a password, not really know why, but I am working in removing that requirement).

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