You've opened the 529. Now what? In Part 2 of this series, Tom and Ann Garcia pick up where they left off and get into the practical side of college savings: how much to actually put away, how to invest it, all the ways you can get the money out, and the question every parent asks, "does this hurt my kid's financial aid?"

Ann walks through her savings benchmarks, explains why the gifting page is one of the most underused tools in a college plan, and breaks down exactly how 529s are treated on the FAFSA. The short answer: better than almost any alternative.

What you'll learn in this episode:

• How much to save (and how to think about it if the full amount isn't realistic)
• Why small annual increases compound into big results
• How to invest inside your 529 as your goals evolve
• Every legitimate way to get money out -- qualified and non-qualified
• How to handle a 529 if your child attends private K-12
• How 529 assets and distributions are treated on the FAFSA

Resources mentioned:

• How to Pay for College by Ann Garcia - available on Amazon
• Ann's website: howtopayforcollege.com
• Utah My529 plan: my529.org

Missed Part 1? Start there -- we cover what a 529 is and how to pick one.

This episode is for informational purposes only and is not tax, legal, or investment advice. Please consult qualified professionals before making any financial decisions.

529 plans are one of the most powerful tools in a college savings strategy -- and one of the most misunderstood. In Part 1 of this two-part series, Tom sits down with Ann Garcia, author of How to Pay for College and one of the most respected voices in college planning, to break it all down.

They cover what a 529 actually is, how it compares to a Roth IRA and a 401k, and where it fits alongside your other savings priorities. Ann shares her 10 percent rule for balancing college and retirement savings, makes the case for why college is still worth it (even with everything changing), and gives a dead-simple framework for picking the right plan.

What you'll learn in this episode:

• What a 529 plan is and how it works
• How to balance college savings with retirement savings (the 10 percent rule)
• Why college still delivers strong ROI financial and otherwise
• The two-plan framework for picking a 529: your state plan or Utah My529
• How to use a gifting page to get family contributions into the account
• Why advisor-sold 529 plans are almost never the right choice

Resources mentioned:

• How to Pay for College by Ann Garcia -- available on Amazon
• Ann's website: howtopayforcollege.com
• Utah My529 plan: my529.org
• Morningstar annual 529 plan ratings

This is Part 1 of 2. Part 2 covers funding strategies, growing your balance, qualified distributions, and the FAFSA question.

This episode is for informational purposes only and is not tax, legal, or investment advice. Please consult qualified professionals before making any financial decisions.

When one stock makes up a disproportionately large portion of your portfolio, knowing what to do with it, especially if it's highly appreciated, can feel overwhelming.

In this episode, Tom talks Lauren through considerations when looking at a portfolio with a highly concentrated stock position. They walk through what concentration actually means, why context matters more than any single percentage threshold, and a range of strategies worth knowing about.

Topics covered in this episode:

• What a concentrated stock position is and when it typically signals a need for closer attention
• Why there is no universal answer, and how the bigger financial picture changes everything
• Tax loss harvesting and how losses elsewhere in a portfolio can help offset gains
• Direct indexing as a technology-driven way to generate losses at scale
• Exchange funds and the trade-offs that come with them
• Options overlays, including collars and covered calls, as tools for managing risk
• Slow selling as a straightforward, often underused approach
• Charitable gifting, direct stock donations, and donor-advised funds
• Estate planning considerations, including the step-up in cost basis at death

Many of these strategies involve significant tax and legal considerations. Throughout the episode, Tom emphasizes the importance of working collaboratively with your financial planner, CPA, and estate planning attorney before taking any action.

This episode is for informational purposes only and is not tax, legal, or investment advice. Please consult qualified professionals before making any financial decisions.