<prompt> Human: Someone at work told me that if Ive reached my 401k contribution limit and IRA contribution limit for the year, I should consider opening a 529 in my state, which has a 529 program, and max that out too.I dont understand why I would want to do this if I dont plan on getting an further education or having children whose education I will need to pay for.Is there any legitimate rationale for using 529 as a long-term e.g. retirement savings account, if youll never use the funds for education?All I can remember is him saying something about a 10 penalty being smaller than getting decades of tax-free compounding returns. In other words, the return you make over two or three decades will be greater than the 10 penalty when you take the money out at retirement age.  <response>: I dont understand why I would want to do this if I dont plan on getting an further education or having children whose education I will need to pay for.You wouldnt want to contribute to a 529 plan with these circumstances. 