Here are the steps to complete one of the most important financial tasks for parents -- saving for a 529 plan.

Get a head start online. Find details on 118 state plans at www.savingforcollege.com, and see Kiplinger's favorites at kiplinger.com/tools/529.

Take a tax break. If your state offers a deduction or credit for contributing to its 529 plan (about two-thirds of the states do), invest your college money in-state.

Decide on a beneficiary. You can designate anyone, including your children, nieces, nephews and grandchildren.

Save money. Choose a low-cost plan that you invest in directly rather than through a broker or adviser.

Make it easy. Choose an age-based portfolio that automatically adjusts investments as the child gets older.

NEXT: Lock in a Cheaper Mortgage

JUMP TO:

Finance

Credit

Retirement

Investing

READER COMMENTS

Post a comment

Hide comment form

 | 

Read all comments (0)

Read recent comments

---

Permission to post your comment is assumed when you submit it. The name you provide will be used to identify your post, and NOT your e-mail address. We reserve the right to excerpt or edit for clarity any posted comments.
View our full privacy policy

Name:

E-mail:

Comment:

MORE: Kiplinger.com | Your Money

TOOLS:   E-Mail Article  |  Print Article  |  Reprint Article  |  Content Licensing & Partnerships

E-MAIL ALERTS: Keep up-to-date with the latest Kiplinger has to offer

SAVE, SHARE & DISCUSS:    |   |   |   |   |    

ADD HEADLINES: