KENNETH HOOKER
If you have 529 funds that you anticipate won’t be used for education, you may be thinking about rolling them over to a Roth IRA. You might talk to your financial advisor or custodian regarding your options. You could also consider other ways that 529 funds can ...
A 529 plan works much like aRoth IRA. It uses post-tax funds to save money in a tax-deferred account. When the time comes for your child to use the money, there won't be any taxes to pay as long as it's used for qualifying education expenses. You have two options with a 529 p...
And since January 2024, however, unused funds from a 529 plan can be rolled over into a Roth IRA account tax-free, turning it into a retirement account. 529 plans contain a variety of different funds such as mutual funds, bonds, funds and ETFs. They are generally recommended for investin...
Money held in retirement accounts, such as a traditional or Roth IRA, is an asset exempt from being evaluated on the FAFSA for financial aid. But funds withdrawn from an IRA account will count as income and may affect a student's financial aid two years after th...
Here are thedifferent ways to pay for college. A 529 plan is one way, a Roth IRA, and from cash flow are other ways. Can You Change The Beneficiary Of The 529 Plan? If the existing beneficiary no longer needs the funds in your 529 account (e.g., he or she gets a full scholarshi...
You’ve got options. But you may be asking yourself: What’s the best way to do this? A traditional savings account? A Roth IRA? Crossing your fingers and hoping for scholarships? (Been there.) The truth is—not all savings methods are created equal. The biggest mistake parents… ...
These types of accounts are kind of like an IRA except that the proceeds are intended for college and have State tax benefits. In general, the range of things you can use these funds for is pretty wide (tuition, fees, room and board, books, etc). One negative is that the choices for...
A new survey finds that 20% of parents of minor children want to save for their kid's college, but haven’t started yet. Here are five tips on how to begin.
Parents with children need to figure out how much cash to sock away in a 529 college savings plan. Deborah Ziff SorianoNov. 2, 2016 Understand Index Funds in 529 Plans Investing in index funds in a 529 plan may be a smart move for more passive investors. Deborah Ziff SorianoOct. 19, ...