The people, companies and trends shaping the global economy. Watch Carol and Tim LIVE every day on YouTube: http://bit.ly/3vTiACF.529 plans — tax-advantaged accounts for education expenses — are the go-to tool for college savers. Offered in nearly every state,2 they grow tax-deferred and allow tax-free withdrawals.3 They’re also preferable to custodial brokerage accounts, which count as a student’s assets and can hurt financial-aid eligibility.4 The biggest edge of a 529 is flexibility. A 529’s beneficiary can be changed easily, so parents or grandparents5 can open one before a child is born, then update the beneficiary later on. If one kid skips college, the account can be reassigned to another child — or even to yourself.For more, Carol Massar Tim Stenovec speak with Ann Garcia, CFP and Wealth Advisor at The Mather GroupSee omnystudio.com/listener for privacy information.

Ask this episode

“What did the council decide on item 42?” — answered with the speaker and the moment.

Transcript

Related