One of the biggest expenses to hit households is college education for their kids. 529 plans are the most common vehicle available for parents to save for their kids education. Via the SEC
A 529 plan is a tax-advantaged savings plan designed to encourage saving for future college costs. 529 plans, legally known as “qualified tuition plans,” are sponsored by states, state agencies, or educational institutions and are authorized by Section 529 of the Internal Revenue Code.