I am trying to figure out what is the best investment option for my daughter's college tuition when she turns 18. We currently have Michigan's education savings program (MESP 529) and we deposit $100 each month. My daughter was born in 2016. I just opened the account a year ago. The earning comes to about 5%, which is a bit conservative in my opinion.
If we open an investment plan for her, I would image earning of 8% or so each year. So, would it be better if we switch to a more aggressive investment plan? Are there any other benefits with a 529 plan in terms of tax or so?