Thu, 7 January 2016
Recently I received this personal note from a personal friend of mine: "My wife suggested I reach out to you for advice as we plan to start saving for our soon-to-be-born-son's education. Hard to believe it's going to be just a few weeks now. I've looked into our state's 529 plan, but wasn't sure if there were better options. Any advice would be greatly appreciated."
My advice in response was simple: don't set up a college plan for your young child. It's a bad idea and a poor use of money in light of all the other things you can do with money that are better.