Ask Yourself These 3 Questions Before Opening a 529 Plan
These days, there's a lot of talk about student loan payments in the news. That's because monthly payments resumed in October after a multi-year pause.
If you don't want your children to struggle with having to repay student loans, then you may be eager to amass a nice-sized college fund for them. And you may be inclined to use a 529 plan to house that money.
The upside of funding a 529 plan is that your investments in that plan will get to grow in a tax-free manner. By contrast, investment gains in a traditional brokerage account are taxable year after year.
Source Fool.com
