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[quote=Anonymous][quote=Anonymous]529s are over rated. [b]The only advantage is tax free growth.[/b] It’s great to have a big balance in it, we have around the same for each child roughly the same age. But, it doesn’t need to be the only source of college funds. A plain old brokerage account allows for a lot more flexibility, more investment options (than most state plans), and you’ll be paying the LTCG rate on the gains. I wouldn’t over think it and put anymore you would save in the 529 into long term investments in a brokerage account.[/quote] Incorrect. 529s are triple tax advantaged - state tax deduction on contributions, tax deferred growth, and tax-free withdrawals for educational expenses (and now also for Roth contributions).[/quote]
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