Keyword Analysis & Research: 529

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Frequently Asked Questions

What is a 529 and how does it work?

529 plans are usually categorized as either prepaid tuition or college savings plans. College Savings Plans work much like a Roth 401 (k) or Roth IRA by investing your after-tax contributions in mutual funds or similar investments. The 529 college savings plan offers several investment options from which to choose.

What can a 529 be used for?

The money in a 529 account can be used for any approved educational expenses. These include tuition and fees, room and board for students enrolled half time or more, books, necessary calculators and software, and services for special-needs students.

Is 529 a good idea?

State-sponsored 529 plans are a great option for parents looking to invest money outside their stock. The federal government has outlined requirements of an approved plan, but the details affecting your pocket book vary by state. Review as multiple plans before determining which plan is best.

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