Sallie’s answer:
A question to a question: Do you have a child? Another question, if you answered yes: Do you think that child will go to college? If so, you may want to have a 529 plan.
A 529 plan is a tax-advantaged way of saving for higher education. I had some for my kids. It was really a fantastic thing because I put the money in, it grew over time, and I sort of forgot about it. By the time it was time for the kids to go to school, it had pretty much paid for them.
So, yes, if you have a kid who you think is headed to college, for sure. If you can afford that, do invest in a 529 plan.
© 2018 Ellevest, Inc. All Rights Reserved.
The information provided should not be relied upon as investment advice or recommendations, does not constitute a solicitation to buy or sell securities and should not be considered specific legal, investment or tax advice.
The information provided does not take into account the specific objectives, financial situation or particular needs of any specific person.
Investing entails risk including the possible loss of principal and there is no assurance that the investment will provide positive performance over any period of time.