Can I open a 529 before my baby is born?

Not directly in the baby's name, because a 529 beneficiary needs a Social Security number, which you get after birth. But there's an easy workaround: open the 529 now with yourself (or your spouse) as the temporary beneficiary, start contributing and investing immediately, and then change the beneficiary to your child once they have an SSN. Beneficiary changes within the family are penalty- and tax-free, so nothing is lost. This lets you capture extra months of tax-free compounding and, in many states, start earning the contribution tax deduction before the baby arrives. It's a smart move if grandparents or relatives want to gift toward college early. Just make the beneficiary swap promptly after birth so the age-based portfolio aligns with your child's enrollment timeline.