We’ve been aggressively saving into a 529 plan since the birth of our first child more than 10 years ago. As we had more kids, we continued to make these contributions, because you can always change the beneficiary of a 529 plan without penalty.
If our first child didn’t end up needing it, our backup plan was to change the beneficiary to our second-born. With how much college costs these days, and will likely increase in the next decade, chances are that our 529 plans are going to be emptied.
If you don’t have four kids, the idea of putting too much into a 529 plan is a big risk. A good risk but a big one nonetheless.
But when the SECURE Act…
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