Originally Posted by ManOnFire
Thanks, but contributions are limited to $2K per year.
Then what you do is use both, but in a way that is compatible with the asset allocation that you want.
Since you want to shift to cash, that means one of two things:
1. Your daughter is almost college age; or
2. You're trying to time the market by getting in and out of stocks when you think they'll go up and down respectively.
I really hope it's (1), in which case you should be in bonds or cash anyway. If it's (2)... I think you already know that market timing generally results in failure. But if you MUST time the market, do so in the ESA and leave the 529 in an age-appropriate investment option: more bonds and less stocks as they get close to college age.