Building the best college fund is a huge topic of concern for families. At least once a day David, Teresa, or I are asked, “How should I pay for college?” Even before I formulate a response, parents will say, “with a 529 account?”.
Now, as someone who has witnessed the evolution of the 529 account, I cannot support it’s use in 100% of cases. Like any financial product, there are benefits and limitations to its use. It is not a perfect tool for everyone
Most people view the 529 account as a college funding strategy, but it is simply a financial product with benefits and limitations. I’ve seen the first hand impacts of said limitations in the form of higher costs for tuition.