Ask Terry Questions Best savings plan for my grandson

Best savings plan for my grandson

By Terry Savage on November 13, 2023 | College Savings / Student Loans

Hi Terry,
I have a 17 month old grandson who we want to sent up a savings plan for college.
What is the safest, but has growth with minimal fees that you recommend?

Take care,

Terry Says

The best way to save for a grandchild is in a 529 plan. Read this:

And if you’re an Illinois resident, as many of my readers are, you should use the 529 plan, because you’ll get a state tax deduction for up to $10,000 of contributions.

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