Most of us hope for our children to attain a degree or get some formal education someday, and a place where we can save our money that has some advantages and distinct disadvantages to do so is college/educational savings accounts. It is important to know what the characteristics of these accounts are so that we can better understand how to allocate our funds across accounts. We will discuss:
1. The types of educational savings accounts (ESAs, 529 Plans, UTMAs/UGMAs, etc.)
2. Why use educational savings accounts
3. Why not use these accounts
4. The process of deciding what type of accounts to use
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