Published March 7, 2022, by CNBC
If you’re eager to jump-start an education fund, you may consider a more significant, upfront contribution to a 529 college savings plan.
A 529 plan strategy allows you to grow money tax-free for qualified education expenses, such as College, vocational school, or up to $10,000 of K-12 tuition per year. Although contribution limits vary by state, ranging from $235,000 to $550,000, experts say depositing and investing sooner may pay off.