Saving for College? Do I use a 529, a Coverdell, an UGMA/UTMA account, or a Roth IRA?
A great article explaining the different options that folks have when investing for college. With a 529 college savings plan, you might enjoy a state tax deduction and the potential of contributing up to $150K as a married couple in a single year when utilizing the 5 year election method; however, plan fees and limited investment options can diminish a 529’s luster. That being said, it is still probably one’s best option when planning for college. Click the link above to discover your best options for your particular situation.