529 Plans Request a Quote Your kids want higher education? Then a 529 Plan allows you to save more than $2,000 a year and allows you to be in control of the mutual funds at all times. These plans are sometimes called “flexible” plans, as you can make as many changes to your investments as often as you deem necessary.Federal income tax laws are complex and subject to change. Neither Nationwide nor its representatives give legal or tax advice. Please consult your attorney or tax advisor for answers to specific questions.