We recommend that you set up a separate 529 plan account for each child instead of using one account to save for multiple children. One of the main reasons is that we recommend an age-adjusting portfolio that automatically adjusts the investments based on the age of the child. Learn more about age-adjusting portfolios here: How do you decide which portfolio to recommend?
Should I set up a separate 529 plan account for each child?
Articles in this section
- Why do you recommend saving with a 529 plan? How does it compare to other options, such as UGMA/UTMA, Coverdell, and savings bonds?
- Can I sign up for a 529 plan through Backer?
- Can I claim any tax credits or deductions for Backer gifts?
- Where can I find my account number?
- What is the difference between a 529 plan and Backer?
- Should I set up a separate 529 plan account for each child?