The people, companies and trends shaping the global economy. Watch Carol and Tim LIVE every day on YouTube: http://bit.ly/3vTiACF.

529 plans — tax-advantaged accounts for education expenses — are the go-to tool for college savers. Offered in nearly every state,2 they grow tax-deferred and allow tax-free withdrawals.3 They’re also preferable to custodial brokerage accounts, which count as a student’s assets and can hurt financial-aid eligibility.4 The biggest edge of a 529 is flexibility. A 529’s beneficiary can be changed easily, so parents or grandparents5 can open one before a child is born, then update the beneficiary later on. If one kid skips college, the account can be reassigned to another child — or even to yourself.

For more, Carol Massar Tim Stenovec speak with Ann Garcia, CFP and Wealth Advisor at The Mather Group

The people, companies and trends shaping the global economy. Watch Carol and Tim LIVE every day on YouTube: <a href="http://bit.ly/3vTiACF">http://bit.ly/3vTiACF</a>. 529 plans &mdash; tax-advantaged accounts for education expenses &mdash; are the go-to tool for college savers. Offered in nearly every state,2 they grow tax-deferred and allow tax-free withdrawals.3 They&rsquo;re also preferable to custodial brokerage accounts, which count as a student&rsquo;s assets and can hurt financial-aid eligibility.4 The biggest edge of a 529 is flexibility. A 529&rsquo;s beneficiary can be changed easily, so parents or grandparents5 can open one before a child is born, then update the beneficiary later on. If one kid skips college, the account can be reassigned to another child &mdash; or even to yourself. For more, Carol Massar Tim Stenovec speak with Ann Garcia, CFP and Wealth Advisor at The Mather Group

Listen for reporting from the magazine that helps global leaders stay ahead. Hosts Carol Massar and Tim Stenovec cover the changing world of money, power and technology. You can watch and listen to Businessweek LIVE on YouTube, weekdays from 2PM to 5PM ET: http://bit.ly/3vTiACF. 

Listen for reporting from the magazine that helps global leaders stay ahead. Hosts Carol Massar and Tim Stenovec cover the changing world of money, power and technology.&nbsp;You can watch and listen to Businessweek LIVE on YouTube, weekdays from 2PM to 5PM ET:&nbsp;<a href="http://bit.ly/3vTiACF">http://bit.ly/3vTiACF</a>.&nbsp;

Carol Massar and Tim Stenovec bring together the latest news from the world of business and finance and the interesting stories of global technology, politics, economics and more by harnessing the power of Bloomberg Businessweek reporters and editors.

Bloomberg Businessweek

How to Pay for College, From 529 Hacks to $12,000 Tokyo Tuition

https://api.omny.fm/orgs/e73c998e-6e60-432f-8610-ae210140c5b1/clips/022678ec-ce43-4fd3-b027-b467014cb227/transcript