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This is Marty Carpenter of the Salt Lake Chamber with your Utah Business Report.
A 529 Savings Plan is a great way to invest your child's college education. The money you put into college-savingscan grow tax-free and is spent tax-free for eligible college expenses.
Most states have a 529 Plan, but only a few receive high honors for their low tax rates and investment plan options. The best 529 Plans are those that charge less than point-four percent annually—that's just a good rule of thumb.
Consumer expert Clark Howard regards Utah's 529 Savings Plan—the Utah Educational Savings Plan, or UESP,as the single best plan in the country.
As far investing in a 529 Plan, Howard recommends the "age-based portfolio," which allows the plan to adjust to a conservative mix of investments as your child approaches college age. However, he says not to be afraid of investing outside your home state.
You can find more information about the —the Utah Educational Savings Plan at uesp.org. That's uesp.org.
This is Marty Carpenter for KSL News Radio.
