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Episode 2784:

Wanderer dismantles the myth that 529 college savings plans are a smart financial move, revealing how their restrictions and market dependence often leave families worse off. With practical alternatives and a clear-eyed view of education costs, he shows how parents can invest more wisely and secure true financial freedom instead of chasing tax breaks that don't deliver.

Read along with the original article(s) here:⁠ https://www.millennial-revolution.com/invest/529-plan/⁠

Quotes to ponder:

"Parents are told they're doing the right thing by saving for their kids' college education, but in reality, they're walking straight into a trap."

"The government loves programs like the 529 because it gets you to tie up your money for decades, ensuring you keep working and paying taxes."

"Instead of locking money away in a 529, invest it in an index fund, let it grow, and teach your kids how to be financially independent."

Episode references:

Vanguard Total Stock Market Index Fund (VTSAX):⁠ https://investor.vanguard.com/investment-products/mutual-funds/profile/vtsax⁠

The Simple Path to Wealth:⁠ https://www.amazon.com/Simple-Path-Wealth-financial-independence/dp/1533667926