Navigating the 529 Plan: Is There an Age Too Late to Start?
As the cost of higher education continues to rise, many families are exploring various savings options to ensure they can afford college tuition for their children. One of the most popular vehicles for this purpose is the 529 College Savings Plan. However, a common question arises: “What age is too late for a 529 plan?” This article delves into the nuances of 529 plans, examining the optimal timing for contributions, the implications of starting late, and strategies to maximize benefits regardless of when you begin.