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Lona E.
I think you should open a savings account as soon as you have kids and decide how much to put in the account
I think you should open a savings account as soon as you have kids and decide how much to put in the account
A 529 is also a great vehicle for saving with a specific purpose (helps stay on target) Check your state's tax deductions usually a portion of the contribution won't be taxed and if you invest it the earnings grow tax free. Also if you were to invest the contributions over 18 years it should grow substantially and help keep up with inflation.