I have a 529 plan for when I return to graduate school in a couple years. It will be a one year program. When I initially signed up for the plan I correlated myself with a teenager an equivalent number of years from college. I now realize this was not entirely accurate. Turns out 529 plans are frequently designed to theoretically increase the amount even while the child is in college (meaning they continue to hold some stock the first couple years), becoming fully conservative only when the child is in the last couple years of college. That means they're investing about 3 years more aggressively than I would have liked. I won't change it now because I don't want to lock in any losses (there have been some) but I will strongly consider putting future additions into the top age bracket rather than a 16 year old one. I'm not putting the money away hoping it will grow, I'm putting it away so I don't need to pay taxes on any interest, and because I receive a bonus state tax deduction for doing so. This will be particularly beneficial since I'm moving states this year and will move again next year, I can receive double the deductions (I am socking away as much money as I can in here right now)
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