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  1. Start by establishing a 529 plan under your name.
  2. Contribute $50 weekly into an S&P 500 index fund.
  3. In just 5 years, this amounts to a $15,000 head start.
  4. Child is Born
  5. Obtain a Social Security Number for the child.
  1. Transfer the 529 plan to the child tax-free.
  2. Let it grow without making further contributions.
  3. By age 18, that $15,000 can grow to approximately $62,000.
  4. Withdraw funds to cover education

expenses.

Bonus: If college funds are not required, consider converting it into a Roth IRA. #529Plan #FinancialPlanning