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☆ The biggest downside to 529 plans is about to go away. Now they’re a ‘no-brainer,’ expert says
▼ + stars: | 2023-09-15 | by ( Jessica Dickler | ) www.cnbc.com time to read: +2 min

watch nowThe benefits of a 529 planThese plans have been steadily gaining steam for a number of reasons. A few states also offer additional benefits, such as scholarships or matching grants, to their residents if they invest in their home state's 529 plan. And yet, total investments in 529s fell to $411 billion in 2022, down nearly 15% from $480 billion the year before, according to data from College Savings Plans Network, a network of state-administered college savings programs. Regular contributions to a 529 college savings plan took a back seat to paying more pressing bills or daily expenses. If your student wins a scholarship, you can typically withdraw up to the amount of the scholarship penalty-free.

Persons: Chris Lynch, Marshall Nelson, Lynch, they're Organizations: College Savings Plans Network, TIAA, Crewe Advisors

☆ Capitalizing on market crashes is key to retiring on time. Many millennials are still looking for their first chance.
▼ + stars: | 2023-03-09 | by ( Jacob Zinkula | ) www.businessinsider.com time to read: +8 min

Stock market declines can create bargain-buying opportunities for investors looking to generate long-term wealth. Many millennials are looking for their first chance to participate, having lacked adequate savings during prior market downturns. That's because a falling stock market creates discounts and a chance to buy high-upside assets on the dip. The 28-year-old is among the TikTok financial influencers telling their young audiences not to miss out on the next stock market slump. Some have argued that overvalued markets, slowing population growth, and rising interest rates could weigh down US stock market returns for at least the next decade.

☆ TikTok's finance influencers are selling the idea that you can become a 'recession millionaire' if the market tanks
▼ + stars: | 2023-03-08 | by ( Jacob Zinkula | ) www.businessinsider.com time to read: +8 min

It also reinforces the idea that the stock market isn't the same the thing as the economy. During the Great Recession, many millennial investors were too young — or didn't have sufficient income — to capitalize on the market downturn. If a recession is on the horizon, Nelson says it would likely provide millennial investors a better buying opportunity. Seo says too many investors hold off on investing until they think the stock market has "bottomed-out." With inflation eroding Americans' savings, many people may simply not have the extra money to throw into the stock market.

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