Latest / The College Savings Podcast with Fexingo: 529 Plans, Education Funding, and Student Costs
Why Your State 529 Plan Might Be a Trap
Most families default to their home state’s 529 plan because it offers an immediate tax deduction, but that convenience often comes with hidden costs. We examine how higher management fees and restricted investment options in local plans can erode returns over eighteen years. Using data from the College Board and specific fee comparisons, we break down why paying a few hundred dollars in lost growth might be cheaper than sacrificing thousands in tax deductions. This episode helps you decide if your state plan is actually working for you or just making your accountant happy.
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The skinny
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