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How to Create a 529 Plan Before Your Kids Are Even Born

Saving for education can help minimize future student loan debt. Money you save now can grow and have huge benefits for your children down the road.

In this video from the Motley Fool Live Financial Planning series, longtime contributor and Director of Investment Planning Dan Caplinger discusses the pros and cons of 529 plans and what’s involved in changing from one beneficiary to another. Dan points out that there may be some gift tax consequences in some cases, but there are some novel strategies you can use if you want to get an early start on college savings even before you start a family.

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