529 plan grandchildren

DigitalDad
Wed, 15 Dec 2021 16:57:18 +0000

HImom:

Is there a cap on how much can be contributed total to a minor

That might be limited to a specific State’s plan. Per example, for NJ (NJBEST) the statutory limit is $305,000 per beneficiary.

That seems like a lot now, but in my case, I had started at age 0.1, made fortunate investment choices, and with that the balance eventually grew to whatever limit at THAT time, at some point preventing me from contributing further.