Opening a 529 plan for yourself near the end of your career is a good means to save for your retirement.

Question

Quizplus · Accepted Answer

A 529 plan is a tax-advantaged savings plan designed to help families save for college or other education expenses. It is not designed for retirement savings, and there are penalties for using the funds for non-qualified expenses. There are other retirement savings options, such as IRA or 401(k) plans, that may be more appropriate for individuals nearing the end of their career.

Opening a 529 Plan for Yourself near the End of Your