529 Savings
I’m building 529 (Edvest in WI) savings for my daughters (7 and 9 years old) but concerned about future withdrawal penalties if they choose not to go to college or don’t need the full amount saved. It was suggested to me to invest half the cost of college in a 529 and half else to mitigate the risk. Do you agree and if so, is there a recommended investment strategy for the second half?
Thanks!
Terry Says
529 plans are the BEST way to save for college, because all teh money comes out tax free for college expenses. And if one sibling doesn’t use it, another can.
AND, if not used for college, and held 15 years, up to $35,000 can gradually be converted to a Roth IRA.
Stick with the plan!
