<prompt> Human: Expecting our first child soon. Wife and I make about 140k combined. I have a 401k and try to hit the Roth a bit but cant always. She has a pension. Should I setup a 529 when the baby arrives? Are there some other steps I should take?Wife and I already each have 1MM term policies.  <response>: You can borrow for school, you cant borrow to retire. Make sure your personal savings are on track before you think 529. 