Moms, when did you start the 529 plan for your child? Also, some states don't provide any tax benefit so is it wise to max contribution for 529 plan? How did you plan for your child education. Asking here because moms are smarter than dads, and this group of moms are the smartest!

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I started one when she was a few months old. My parents gifted cash for the account and I put in what I’d have spent on childcare since we’ve been watching her at home with no outside help.

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Wow! That must be a tough job! You are a smart mamma! Though I almost feel that you should have got that amount to spend on something nice for yourself 🤣🤣🤣... but thats what mammas as all about. Thinking about baby before anyone else!

As soon as their social security cards arrived. We make monthly contributions, increasing the amount each year. Kids are 5 and 7 now. It’s maybe 500$/mo each. It would be nice if we could swing more, but we’re unexpectedly paying for a private tutor all year due to Covid and definitely spend too much on a sport one kid is passionate about.

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We file as a couple, no issues.

My son is 2 and i started earlier this year. Putting in 200 a month.

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Thanks for sharing!

Daughter is 2 and we started when she was born as well. We did a rough estimate when I was pregnant of approximate cost of state college (I think we did 3% inflation and 3% “college tuition cost makes no sense”) when she’s 18 with slight buffer for unexpected changes and got to monthly contribution that way. If she gets into private college then scholarships better be involved 🤣

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We put 250/ month total. Also, you don’t have to use your state plan. Do some research into what state plans you can contribute to that allows the child to attend any state school. For ex; we live in MA but contribute to NY state plan due to independence restrictions

We have one 2 yr old and started when he was born- put $5k in and haven’t put more since then. Agree I’m not sure it’s the best place to put the money since there’s no tax benefit.

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I would think it makes more sense to invest elsewhere. If I am giving them money and only want it to be for school, that is how it would be spent (by me); the type of account the cash comes from won’t make a difference to me. I also don’t love the limits it has for what it’s used for and for whom etc... what if my kids prefer tech school or baking? To be honest I am also not the parent who wants to give my kid $500k or whatever it is that many seem to give. I know it’s a very personal decision but paying for all of their college and mba and PhD is not necessary to me. Mayyyybe if I happen to have boo-Hoos of cash at the time, but it’s not a requirement in my mind.

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