Static Portfolios† invest in a predetermined mix of stock and bond funds; the target asset allocations are designed to remain fixed throughout the life of the account, regardless of the age of the beneficiary. The portfolio's investment in many underlying funds means they will be exposed to the risks of many areas of the market. In general, a higher percentage of stock funds can result in greater risk and greater potential return. With this option, you have the flexibility to move your assets to a more conservative or aggressive portfolio. It is important to note that, per IRS regulations, there are limits on the number of times you can change investments each year.