Forbes – Bob Carlson
“In a 529 savings plan, you contribute money to an account and name a beneficiary, usually one of your children or grandchildren. The money in the account is invested, and the income and gains compound tax free. Some plans let you choose how the account is invested from among mutual funds selected by the plan sponsor. In other plans, the sponsor decides how the money is invested or allows you to choose from several diversified portfolios it manages.” (more)