529 savings plans are underused but valuable

Any day now, students will be heading off to college – and parents will be getting out their checkbooks.

Without a college-bound student in your home right now, you might not be thinking much about tuition and other higher education expenses, but if you have young children, these costs may eventually be of concern – so how should you prepare for them?

It’s never too soon to start saving and investing. Unfortunately, many people think that they have a lot of “catching up” to do. In fact, nearly half of Americans say they don’t feel like they’re saving enough to cover future education expenses, according to a 2022 survey conducted by financial services firm Edward Jones with Morning Consult, a global research company.