The 529 plan is the most well known education saving plans. It has it's benefits for high income families but is not always a good plan for everyone. What many don't understand is there are more cons than pros to having this account. For example, your money is limited. If you were to take out some money, their would be a 10% fee, and it would be subject to income tax. Overall, it's better to invest your money to build your own net worth.
#529Plan #savings #investing #education
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