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Reply to "Do most parents have a 529 plan?"
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[quote=Anonymous]There are about 16 million 529 plans nationwide according to https://nast.org/wp-content/uploads/529-accounts-surpass-16-million-for-the-first-time-ever.pdf based on that, the average balance is around $26k. Of course, many of the families that have a 529 plan have more than one--for multiple kids, or grandparent and parent are each saving, etc. So I don't think it's accurate to say that most parents have one. About half of young children qualify for WIC, for example, which makes me think their parents are unlikely to be putting aside money for college or trying to minimize their tax burdens. [/quote]
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