College tuition has outpaced general inflation consistently for decades. A child born today faces estimated education costs of $150,000–$350,000 by graduation. A 529 plan started early can fund the majority of this through compound growth. The most important rule: prioritise retirement over college savings. You can borrow for college; you cannot borrow for retirement. If your retirement savings are underfunded, fund them first. Once you're on track, direct surplus toward a 529. A modest monthly contribution started early beats a large contribution started late.
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