I’ve been reviewing my finances lately, including the college savings plans for the kids. The state of Georgia 529 plan allows you to deduct a $2000 contribution per kid from your state taxes, as long as your federal adjusted gross income is less than $100,000 / year (and yo, I have no problem squeaking under that cap). So I was socking away $2000 per kid / per year to take advantage of the deduction.
Lo and behold, they just changed the rules. They removed the income cap (yay?) but they also capped the deduction to $2000 per return (instead of $2000 per kid). Oh well, I was putting too much in those funds anyway, so I’ll scale it back to $1000 per kid. At two- and four-years-old it helps to start early but let’s not get crazy.
P.S. Here’s another good article about 401k vs Roth:
Linky