KXLY December 11, 2020 4:33 AM Reyna Gobel - Forbes Advisor Posted: Updated: December 12, 2020 8:18 AM 529 plans are education investment accounts with special rules and tax benefits that help families save for college—and even for K-12 tuition. These plans come in multiple forms: a prepaid tuition plan or a savings plan that allows after-tax contributions toward investments in mutual funds and exchange traded funds. A 529 plan can be a smart way for you to start saving early for your child’s college education. Plans are available in all 50 states, with plan managers assigned to pick investments that it feels are the best for that state’s plan, potentially resulting in an easier investment process and lower fees negotiated because of group buy-ins.