How to Save For College With A 529

College is the single largest expense parents will be faced with before retirement. Some of this expense can be handled through scholarships and financial aid, but without proper saving there will be a great shortfall.

Instructions

Difficulty: Moderate

Things You’ll Need:

• An hour to review your monthly budget.
• A 529 - http://www.529s.com
• A risk tolerance form.
• Know your time horizon.

1. Look at your monthly budget.
2. Determine an amount that you could comfortably have automatically transferred to a college savings account each month. $50? $100 $500?
3. Setup a 529 - http://www.529s.com
4. Review your account on an annual basis.

Tips & Warnings

• Review the 529 annually. As the child gets closer to going to college, you'll want to allocate funds to more conservative investments.