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Reply to "Why should I have a 529?"
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[quote=Anonymous]Why do it? 1. Once you've maxed out contributions to your tax-protected retirement accounts (401k, IRA, etc), the 529 provides another alternative route for tax-protected savings. 2. It provides a separate conceptual bucket to store college savings, which is more helpful for some people to have than a full intermingling of savings. 3. Once you've put the money in, it's harder to get out for non-college reasons, so it becomes sort of a forced-savings mechanism. #1 is the primary reason, IMO. If you've still got some head-space in your retirement accounts, then continue to contribute to those first, before you start contributing to a 529.[/quote]
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