Re: Saving money for other people
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So what exactly is the advantage of placing the money into a 529 rather than investing it in your own name and then paying for his tuition when/if he attends college?
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It grows completely tax-deferred, and the gains are not taxable (under current law) when the money is withdrawn. Plus, all of these 529 tax laws are likely to stay (be renewed) before they expire in 2010. These are tax advantages for the middle class, and are very popular.
-Tom
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