America’s Most Powerful Savings Account for Kids Roth IRA Comparison Comparison Mora vs. DIY Features Mora Kids Roth IRA kids College 529 UGMA/UTMA Tax-Free withdrawals (for ANY purpose)1 After-Tax Balance of $100K invested2 $4.62 million ...
Contributions made to a Roth IRA (but not the earnings) can be withdrawn penalty-free at any time. This, combined with the exceptions for major life events, like college, homebuying, and new parenthood, can make Roth IRAs flexible accounts. Trusts Despite their reputation, trusts are not jus...
Leverage a 529 college savings or prepaid tuition plan. Use a Roth IRA. Open a health savings account. Look into an ABLE account. Open a custodial account. Set aside money in a trust fund. Use tools that teach the value of saving money. 1. Create a Children's Savings Account ...
Another kind of plan allows prepayment of tuition at today's level, if your little scholar eventually attends a public university. If your child decides to go elsewhere, you often can get the money back. There are a couple of other savings vehicles for college. One is the tax-advantage ...