Over the years, Clark has been a big advocate of saving for your child’s college costs through college savings plans – also known as 529 plans. Unfortunately, these plans have suffered in the market lately because the law allowing money to be spent tax free was about to expire. So people stopped putting money in. The good news is that a more recent law passed by Congress negates that and makes permanent the tax free status of 529 plans. So, contributing is a wonderful idea. What you need to remember is that are two kinds of plans – bad ones and good ones. The bad ones are the outrageously priced, commission-laden plans that take a huge chunk of your money. The good ones are those with very little commissions that you set up yourself. There is no need to pay a commission to a firm or company because you do it all yourself. One unnecessary level is that each plan must be sponsored by a state, according to the law. And states can lend sponsorships to multiple plans. So, there could be good plans and bad plans in one state. That’s why you need to refer to Clark’s 529 plan guide. The guide has only good plans for various states. Clark recently opened a 529 plan for his son and it took him all of 8 minutes using the guide. Get smart about this and keep more of your money.