Choosing between a 529 plan and a UTMA account can shape your child’s financial future. 529s offer tax-free growth for qualified education expenses, while UTMAs provide flexibility for any use benefiting the child. A balanced approach—starting with a UTMA and shifting to a 529—can mix tax benefits and preserve eligibility for education tax credits. Saving just $166 per month from birth can grow to $65,000–$100,000 by age 18, giving your child a strong start in life.

The new feature of the Secure Act 2.0 legislation allowing 529 plan account beneficiaries to roll over funds into their Roth IRA is now...