My kids are 11 and 15. I've neglected to save any money for college for them, but I want to start now.
Given that I am starting out this late, does the 529 college make sense at this stage? If I understand correctly, the only benefit is that I won't get taxed on whatever windfall I make from the 529 investments, correct?
Is there a better way? Or is 529 the cat's meow?
P.S. I am in California - there is additional state deduction or anything that would sweeten the deal, afaik.