Charles Lewis Sizemore, Financial Advisor
You can get started with as little as a couple hundred dollars with most 529 plans, though obviously the more the better. You choice of account will really depend on how much you intend to invest for each child. If you're looking to contribute $2,000 per year or less, an Educational Savings Account (ESA) will generally be the cheapest option in terms of fees. It's also available at most online brokers and will allow you to invest in virtually anything: mutual funds, ETFs, stocks, etc. The only real downside is the $2,000 yearly contribution max per child. If you are looking to invest more, go with a 529 plan. Depending on your state's tax rules, it might be advantageous to use your state's plan. But if you are lucky enough to live in a no-income-tax state, you have your pick of the litter. I personally like the Arkansas 529 plan, which is run by iShares, the ETF provider. Costs are low and investment options are solid.
Did we answer your question?