By Mary Anne Busse, Managing Director of Great Disclosure LLC
October 26, 2017
By the time my daughter was a preschooler, her 529 plan was already well under way. I had invested in an age-based option – the so called “set it and forget it” choice – with investments structured to become more conservative as my daughter reached college age. I had even set up automatic monthly investments so that I didn’t have to remind myself to contribute to her account every month or quarter or year. So … you would think that I had nothing to worry about.
I’m a single mom. Of course, I had lots to worry about! I started thinking about whether I’d be saving enough or if I was saving too much. Did I choose the right plan or should I change my investment choices? 
But, here’s the thing. For all my worrying and second-guessing, I ended up staying with the same age-based option. In fact, I’ve increased my monthly contribution each year and used easy-to-find (thanks Google) college cost calculators to give me an idea of how much I can and should save. All in all, it’s become a pretty easy process to check in on and maintain my 529 plan.
My preschooler is now in 4th grade and I’m so glad I did not let the fear of decision-making or worrying or second-guessing stop me from opening her 529 plan account! She is well on her way to a solid amount of college savings! Now I have time to worry about other important stuff – like what I’m feeding her for dinner tonight!
If you haven’t started saving for your preschooler’s college, now is a great time to start. In fact, even if preschool has long passed you by, it’s never too late to save. Saving through a 529 plan can also provide great federal tax benefits and, in some cases, state tax benefits too. You can learn more about plans offered across the country here.
About the Author:
Mary Anne Busse is the Managing Director of Great Disclosure LLC, a full service strategic consulting firm dedicated to the 529 and ABLE Plan marketplaces. Great Disclosure represents 529 and ABLE Plan administrators on all aspects of 529 Plan and ABLE administration, marketing, and operations and is a registered municipal advisor.