By Dr. Jim Dahle, WCI Founder

I keep running into discussions relating to 529 accounts that make me shake my head for various reasons. The whole point of a 529 is relatively straightforward. It is a tax-advantaged account used to save for education. Like a Roth IRA, after-tax money is contributed, and principal and earnings come out tax-free and penalty-free when used for approved education expenses. Many states offer an additional deduction or credit for contributions up to a certain amount.

Straightforward, right? You would think so. Until you talk to people who are actually using these things. Nobody seems to be using them the way I use them, which I would argue is the way they were intended to be used. I manage more 529s than anyone I know. I have 35 of them. I contributed to 30 of them this year, and I am withdrawing money from

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