Time – Jeff Wuorio
“Coverdell accounts have been eclipsed by 529 plans, but they can still offer some advantages. Comparing a Coverdell Education Savings Account to a 529 college savings plan might seem like putting a Big Wheel up against a Harley Davidson. According to the Investment Company Institute, 529 plan assets totaled more than $224 billion in 2014. By comparison, Coverdell assets amounted to relatively paltry $7 billion. It’s likely that many college savers have never even heard of them.”(more)