Understanding the Average Balance of a 529 Plan: Insights for Savvy Investors
As the cost of higher education continues to rise, many families are turning to 529 plans as a strategic way to save for college expenses. These tax-advantaged savings plans offer a unique opportunity to grow funds over time, but one question often arises: What is the average balance of a 529 plan? Understanding this figure can provide valuable insights for both current and prospective account holders, helping them make informed decisions about their educational savings strategies.