How do I open a 529 plan for my child's education?

How do I open a 529 plan for my child's education?

Opening a 529 plan is a great way to save for your child's education! First, you'll need to choose a plan. Do you want to know about the different types?

Yes, what are the types of 529 plans available?

There are two main types: prepaid tuition plans and education savings plans. Prepaid plans let you pay for tuition at today's rates, while education savings plans allow you to invest in a variety of options. Which one interests you more?

I think the education savings plan sounds better. How do I start?

To start, you'll need to select a plan from your state or another state. Then, you can open an account online by providing some personal information and making an initial deposit. Would you like help with finding a specific plan?

Yes, can you recommend a good education savings plan?

Sure! Some popular options include the Vanguard 529 Plan and the New York 529 College Savings Program. It’s best to compare fees and investment options. Would you like more details on any specific plan?