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What is a 529 plan?

A 529 plan is a tax-advantaged savings account designed to be used for the beneficiary's education expenses. Use the money in your 529 for a wide range of college expenses at accredited schools nationwide in addition to tuition expenses for K-12, certain apprenticeship costs, and student loan repayments. 1

Should I invest in a 529 plan or a brokerage account?

When saving for college, 529 plans and individual brokerage accounts are two popular options. A 529 plan is a tax-advantaged investment account designed specifically for education expenses. By contrast, a brokerage account is a general-purpose investment account with no specific tax benefits for education savings.

Who controls a 529 plan?

A 529 plan is technically a custodial account, so an adult custodian controls the funds for the benefit of a minor. The beneficiary can assume control over the 529 once they turn 18. However, the funds must still be used for qualifying education expenses. What Are Qualified Expenses for a 529 Plan?

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Risk warning: Digital asset trading is an emerging industry with bright prospects, but it also comes with huge risks as it is a new market. The risk is especially high in leveraged trading since leverage magnifies profits and amplifies risks at the same time. Please make sure you have a thorough understanding of the industry, the leveraged trading models, and the rules of trading before opening a position. Additionally, we strongly recommend that you identify your risk tolerance and only accept the risks you are willing to take. All trading involves risks, so you must be cautious when entering the market.

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