529 plans are one of the most popular ways Americans save for the college expenses of their children. As of June 2024, there were 16.8 million 529 savings accounts holding $508 billion, according to the College Savings Plan Network.
While these tax-advantaged accounts are effective tools for meeting future education needs, a 2023 analysis found that overfunding a 529 plan can result in a large tax bill if money remains in the account after the beneficiary has graduated.
Research from Vanguard suggests that investing in commodities is the most powerful way to hedge against unexpected inflation.
