Beyond the Mansion Gates: How Celebrities Are Using 529 Plans Like My529 to Secure Their Kids’ Education When you hear "celebrity," you probably picture a private jet or an Oscar statue—not a college savings account. But even the wealthiest parents in the world, from Hollywood royalty to tech billionaires, are embracing the humble, yet incredibly powerful, 529 college savings plan. They aren't just using it to pay for tuition at an Ivy League school; they're leveraging the plans for maximum tax and estate planning benefits. The financial strategies of the elite prove that a plan like My529 (Utah's highly-rated, nationally accessible plan) is the smartest move for every family, regardless of your net worth. Here is a look at the secret sauce of how the A-list is making 529 plans their favorite investment vehicle. 1. The Real Star Power: Tax-Free Growth For the ultra-wealthy, the biggest benefit of a 529 plan isn't a deduction; it's the tax-free growth of...

Would Harry Potter Benefit from My529? A Fun Take on Saving for College Imagine the scene: Dumbledore, instead of explaining the Philosopher's Stone, is explaining the fine print of the Internal Revenue Code. It’s a ridiculous thought, but let's be serious about the financial realities of The Boy Who Lived. Harry Potter, a British citizen living in the wizarding world, attending a centuries-old castle school, is an unlikely candidate for a U.S. college savings plan like My529 (Utah’s top-rated plan). But with a little bit of magic—and a lot of U.S. tax law—we can determine if a 529 plan would be a worthy investment for his education. The Hogwarts Cost Breakdown (and Why It's Complicated) The first question any financial planner asks is, "What are the expenses?" This is where the wizarding world clashes with the muggle one: Hogwarts Expense Muggle Equivalent My529 Eligibility? Tuition & Room/Board K-12 Private School Fees NO. J.K. Rowling confirmed Hogwarts tu...