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Open Separate 529s for Kids
- Open a separate 529 account for each child to keep things simple and organized.
- Changing beneficiaries is more headache than managing multiple accounts over many years.
Max 529s After Retirement
- Prioritize maxing out state tax deduction limits in 529 plans for tax benefits.
- Ensure retirement savings come first before aggressively funding college accounts like 529s.
Prioritize Retirement Over College Cuts
- Max out retirement accounts before cutting back for college savings or taxable accounts.
- Focus on funding goals rather than letting tax advantages dictate investment choices.