The older the parent, the tougher choices one has to make when it comes to saving for college. Which is more pressing, retirement or higher education? And when you do contribute to college funds, the pressure seems greater to make the right decisions.
Once a parent decides to start saving for college, scores of accountants and financial planners champions 529 plans -- state-sponsored educational savings funds that offer tax breaks. First introduced in 1997, there are now 85 plans available. And while there are other college investment programs, 529 savings plans stand out in a variety of ways.