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The Pros and Cons of The 529 With Sean Mullaney

The Personal Finance Podcast

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Rethinking 529 Plans: A Different Perspective

The guest, Sean, challenges the common recommendation of investing in a 529 plan for children's education. He emphasizes the need for parents to secure their own financial independence before saving for a 529 plan, highlighting the limited time frame for retirement savings. The chapter discusses the tax advantages, drawbacks, and restrictions of using a 529 plan for education expenses.

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