I have two kids and expecting my third - a 10 year old and a 5 year old. We live in NJ and work in NYC. We currently dont have a 529 plan for our kids; also not sure whether 529 is a good option for college education savings considering NJ doesn’t get a deduction for it; what other options are out there for college savings funds. My hubby wants to save 50k each for our older two kids in next two years but we are completely clueless where to put this money for a good return and get tax benefits.

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UTMA/UGMA accounts are another option. I just opened one for my newborn with TD Ameritrade

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529. The funds grow tax free.

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Yeah but living in jersey we don’t get a state deduction for out contributions

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