529 College Savings Plans are a great way to save for your child’s college education. In this video, we’ll discuss what they are, …
source
529 College Savings Plans are a great way to save for your child’s college education. In this video, we’ll discuss what they are, …
source
You can now put up to 35k of unused money into a Roth for your child
Can you gift the 529 plan to a child that is not yours?
If the child decides not to go to college can the 529 roll over into an IRA account for them and remain tax free?
2024 update – IRS now allows you to convert unused 529 funds into a Roth IRA
Ty sir!
Hypothetical situation… if I invest in high income ETFs within a 529 and the monthly distributions are able to pay for a child's education without selling any shares, am I able to then change the beneficiary after the first child finishes college and then use the same 529 to pay for the next child's education? Basically, it would be a tax free way to pay for the education of multiple generations?
As an lnvesting enthusiast, I often wonder how top level investors are able to become millionaires off investing. . I’ve been sitting on over $545K equity from a home sale and I’m not sure where to go from here, is it a good time to buy into stocks or do I wait for another opportunity?.
You can also roll over 529 plans to a Roth IRA now.
Minimum is $3k…I need to save up for my kid to save up for college. To do Vangard at least. Any other 529 plans that have a Target enrollment, so it can be aggressive early and low risk as it gets closer?
Question… if my child decide not to go college or we decide not to use money in 529 account at that time. We can still keep an account long as we want?
I like that option that, i can pass this to grandchild.
Not a great opening explanation, I'm confused. So Its a unit trust fund and if it makes a profit it's tax free. Is that what you mean?
AVN Branch? Do any time at Rucker? G.I. Bill and TAP enabled me to be much further along in life. Thanks for your videos they are helping my wife and I a lot.
As 2024, it can be transferred to yours or their ROTH IRA
What happens if I invest in 529 for one year and hit hard time and lose my job and can't afford to invest? Thank you for your video and any guidance on this question 🙏
1:50 shows "Tax FREE Growth" on your slides yet you clearly say "Tax DEFFERRED Growth", so we pay Uncle Sam on the gains as this is basically a form of income, right?
Besides the gaffe above, nice introduction to 529 as we're debating if we should use Vanguard vs. our state-sponsored plan in ScholarShare.
If you have more than one child is it better to open up one 529 and contribute to that or open up a 529 for each child?
I thought you live in California? There are no tax benefits.
There are many important missing points in this video which might discourage someone to start with 529 college savings plan at first.
10% penalty on gains still beat getting taxed on gains every year instead of compounding.
Hi Tae, can you buy fractional shares for Vanguard ETFs like VOO or VOOG in a 529?
I always trust an Asian
Great video
One note that wasn’t mentioned explicitly in this video: only the gains are subject to the 10% penalty if you don’t use it for a qualified expense
Missing in the video is that you can deduct the amounts added to the 529 account for the state tax return. Just ensure it's a plan the state office endorses.