529 plans are specifically built to help save for college. Other types of educational spending are allowed, but college is by far the biggest educational expense out there. UTMA accounts allow for money to be invested on behalf of a minor so that they have access to it at 18 or 21. They will have the freedom to spend this money however they would like, so long as it is legal. #utma #529plan #investing #biblicallyresponsibleinvesting