A 529 savings plan gives you an easy and affordable way to save for college. However, many people do not know how to develop or contribute to a 529 plan to prevent them from maximizing this tax-privileged investment vehicle.
529 plans offer many benefits, including tax-free growth and withdrawals for qualified expenses. But they also have their disadvantages, such as the imposition of a penalty for not dropping out of school.
The good news is that they are accessible to …
