If you want to change any of your 529 account investments, now is a good time to do so. That’s because you’re allowed to make changes to your investments twice a year. If you make changes now, you’ll still have both opportunities in 2016. If you wait until January, you’ll be using one of your 2016 changes.

If your 529 account is invested in an age-based portfolio or other allocation, the plan provider is rebalancing for you. Nonetheless, it’s always a good idea to take a look at the underlying investments in those portfolios because there is a wide range of allocations in different plans. Even just within Utah’s 529 plan– one of the most popular and highly-rated– there are four possible asset allocations for each age-based portfolio, and many states’ plans similarly offer multiple allocations.

If you are not using an age-based portfolio, rebalancing is important to ensure that your allocation is appropriate to your student’s age and intended college enrollment date. Compare your investment choices to the applicable age-based option(s) in your plan to see whether it might be appropriate to dial back on risk as college gets closer.