<prompt> Human: Background: I am currently maxing my 401k every year 18K approximately 10K employer match and have been blessed with a high income. I graduated with a bunch of student loans that are almost paid off and have a mortgage at a very low interest rate. I am considering starting a 529 plan to start funding education costs for my hopefully future kids. I have no kids presently, but am married and we plan to try to have kids in the next 3ish years. I know that having kids isnt always as easy as people think, but there is no shortage of kids in my family my brother just had a kid that if we are unable to have kids adopt there is no question that someone would be able to use the funds. My primary goal for the 529 is to pay for future college costs, but also as a way to reduce my taxable income. I am currently in the highest tax bracket, so I view the plan savings as having an immediate 40 return, which is basically impossible to beat. Is there any downside to this plan that Im not thinking of? Thanks!  <response>: I am currently in the highest tax bracket, so I view the plan savings as having an immediate 40 returnThats not how it works. 529s arent federally deductible. Some states allow deductions but generally theyre limited to a few thousand at most.If youre on track for retirement and are ok paying for your niecenephew to go to college, then fund it. 