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Its a good plan. But after you max out your Roth you might want a 529 in addition.

I did some calculations 16 yrs ago when my daughter was born and at the time (pre-529) I concluded that it was better to fully fund a 401K and/or IRA than to save elsewhere for college. Then, if needed, take the money out early and pay the penalty. (This applied for only money that would compound tax free for at least 8-10 years, IIRC).

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