Lifelong Learners: Set Up a 529 Plan for Yourself
by Mary Kane, Associate Editor, Kiplinger's Retirement Report
Mar 06, 2019
3 minutes
If you have helped children or grandchildren with college costs, you are probably already familiar with 529 plans, the tax-advantaged education savings accounts offered by states and educational institutions. The money grows tax-free over the years until you take it out, tax-free, to use for a child's tuition, books, room and board, and other qualified educational expenses. Another benefit: Most states also offer residents a tax break for contributing to their own state's plan.
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