<prompt> Human: I am 29 and have two kids 8 4 and plan on having one more sometime in the next few years. I plan on my kids going the route of either earning scholarships or using community college -in-state school in order to keep costs down, so I dont plan on paying tons of money towards their education. However, I would like to have some money saved up so that I can help them if needed and that they can have opportunities ie study abroad that they may not have without some extra help or putting themselves in massive debt.I make 36k and their mother makes 28k. I contribute roughly 120month to a 403b which is matched by my employer. When all is said and done I dont have too much left to put into other savings accounts, but I do want to put whatever I have left over into longterm savings for this type of thing.Any advice on what the best type of savings account to use?  <response>: 529s are made for this scenario. You can put in money into the 529, one per child, and you can invest the money. Any gains are tax free.529 money can be used to pay for any education expenses, and that definition is pretty lax. You can use the money to pay for room and board if the kids are enrolled in college, for example. 