529 Plan
A tax-advantaged account for education costs. Contributions grow tax-free and withdrawals for qualified education expenses — college, and now more — are tax-free too.
By Findley's Finance · Last reviewed: September 2026
Why it matters
The 529 is the Roth IRA of college savings: you fund it with after-tax dollars and the growth is never taxed as long as it pays for education. Many states add a tax deduction for contributions, which is free money on top. The money must be used for education or face taxes plus a penalty on the earnings — so fund it for a real education goal, not as a generic investment account.