Make timely adjustments to your 529 plan

If you have school-age children, you might greet the arrival of June with some relief — for at least a few months, you don’t have to worry about “encouraging” kids to do their homework, study for tests, give you their permission slips for field trips, and so on. But one day, these obligations will give way to a substantially bigger one — paying for college. If you’ve already begun preparing for that day with a tax-advantaged college-savings vehicle, such as a 529 plan, you’re taking a positive step, because higher education is expensive. But it’s not enough to just set up your 529 plan — you may also need to adjust it over time.