Mar 05 2025 37 mins 8
Join us as we dive into the topic of managing funds in a 529 plan.
We address a question from a parent who is uncertain about how to handle the money in their child's savings plan if college is not pursued.
What You’ll Learn:
- Exploring the tax advantages and qualified expenses associated with 529 plans
- Discussing options such as changing beneficiaries, rolling over funds to a Roth IRA, or using the funds for education paths like trade schools or apprenticeships
- Highlighting the implications of withdrawing funds from a 529 plan, including tax penalties and advice from financial professionals
Join us as we navigate the complexities of managing a 529 plan and provide valuable insights on making informed decisions regarding education savings.
Whether you're a parent planning for your child's future or seeking education paths, this episode offers practical advice and considerations to help you navigate the financial landscape.
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