Now that we’ve reviewed the basics and the types of 529 plans, I hope you are in a better position to consider investing in one for your college-bound student.
As someone nearing the end of her college education, I would have to recommend at least looking into 529 plans.
Like any savings, it is always a good idea to start early, but a person can create a fund at any time. My fund was started when I was 7 or 8—I’m 21 now—and paid for the majority of my education at a private institution in New York State. Even though my family utilized the 529 plan in New York and I went to a local school, I could have gone anywhere in the U.S. or abroad with my fund, according to nysaves.com.
There is no question about how much my family’s early planning helped my current education. Without the fund, I would not have had my pick of colleges. Today, on 529 Day, don’t forget to research some 529 plans and consider what they could do for you and your education.
Today is nationally recognized as a day of awareness for college savings. Check Twitter using #529Day for opportunities in your area. Here are a few activities we found:
• The SSgA Upromise 529 Plan is sponsoring “529 Day” from 10 a.m. to 8 p.m. Wednesday at the Terry Lee Wells Nevada Discovery Museum.
• The Maryland Zoo is having $5.29 admission for the first 529 kids.
• The Adventure Science Center in Nashville is offering $5.29 admission for the day for children two through 12 yars of age and 5.29 percent discounts in the gift shop.
• The Jackson Generals, Nashville Sounds and Memphis Redbirds baseball teams are all offering admission tickets for only $5.29.
Check in your hometown for more opportunities!
— Written by Rachel Montpelier
