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How much money can a 529 account save a child?

If you open a 529 account when your child is born, make monthly contributions of $250, and follow a moderate-risk approach, according to our 529 savings calculator, you can expect to have around $100,000 to $120,000 in college savings by the time they reach 18.

How much money can a 529 plan save?

You can spend 529 plan savings on college expenses, as well as K-12 tuition, certain apprenticeship costs, and student loan repayment up to $10,000 per beneficiary and each sibling. How Does a 529 Plan Work?

How do I use my 529 plan money?

Many accounts let you make an initial deposit so your money gets invested right away (if you pick the savings plan). For most accounts, you can set up recurring transfers from your bank account to your 529 plan, similar to auto bill pay. How you use your 529 plan money depends on the plan type you choose.

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