/ Ask Terry Questions / College fund

College fund

By Terry Savage on May 20, 2023 | College Savings / Student Loans

Hi Terry, My son is two years old. My husband is hestitant to open a 529 account for college because he thinks it will lose the money. Can you tell me the pros and cons of opening a 529 college plan for our son?

Thank you!

Terry Says

It could lose money — but if you have 16 years at least until you need the money, it’s likely to grow far faster than a simple savings account.
And the money can be withdrawn tax-free for use at ANY college in any state.
Read this for details: https://www.terrysavage.com/529-plans-even-better-now-2/



a personal
finance question