Calculate 529 education savings plan projections with tax benefits, growth analysis, and college cost planning for multiple children.
Frequently Asked Questions
What happens if my child doesn't go to college?
You can change the beneficiary to another family member, use funds for trade schools or apprenticeships, or withdraw the money (paying taxes and a 10% penalty on earnings).
Starting in 2024, you can also roll unused 529 funds to a Roth IRA for the beneficiary under certain conditions.
How much should I contribute to a 529 plan?
Contribution amounts vary by family income and goals.
Many financial advisors suggest saving for 25-50% of expected college costs through 529 plans, with the remainder coming from current income, student aid, and loans.
Consider your state's tax deduction limits when determining contribution amounts.
Can I have multiple 529 accounts for one child?
Yes, you can have multiple 529 accounts for the same beneficiary, including accounts in different states.
However, be mindful of overall contribution limits and potential gift tax implications.
Some families use multiple accounts to take advantage of different investment options or state tax benefits.
About This Page
Editorial & Updates
- Author: SuperCalc Editorial Team
- Reviewed: SuperCalc Editors (clarity & accuracy)
- Last updated: 2026-01-13
We maintain this page to improve clarity, accuracy, and usability. If you see an issue, please contact hello@supercalc.dev.
Financial/Tax Disclaimer
This tool does not provide financial, investment, or tax advice. Calculations are estimates and may not reflect your specific situation. Consider consulting a licensed professional before making decisions.