<prompt> Human: My wife and I are both teachers and gross around 80kyear in Florida no state tax. We have a one year old and want to ensure she does not have to take out student loans so we want to create a college fund for her. We have written off Florida prepaid as it has prorated future tuition costs. A financial advisor with our district recommended a 403b and that we can use those funds without a tax penalty as long as it is for school which I did not know about. I had been eying either vanguards 529 or New York states 529 plans as they have shown to be great performing long term but they are also after tax and the 403 is pretax. We are both fairly young so we will not be over 59 when the funds are needed. I guess my basic question is what do you guys think? I lurk here a lot and have seen great advice that I have used to become financially healthy and I want to pass that on to my child and not have her be stuck paying back student loans like I have done. Thanks!  <response>: I would like to learn more about this too. However, I am concerned about what would happen if my child didnt go to college? When I moved the money around would there be a huge tax penalty? 