There is no deduction federally for contributing to a 529. You might get a deduction on your state tax return, but that's not going to give you a 20 to 30% discount. The highest state tax rate in this country is over 13%. For some states, the money has to have been there for at least a year.
When Silicon Valley Bank collapsed, some investors thought Charles Schwab could be next. But, the bank with $8 trillion in client assets is proving to be resilient.
(00:21) Ricky Mulvey and Asit Sharma discuss: - Schwab’s cash sorting problem. - Takeaways from bank earnings. - A deadline for the Microsoft/Activision deal whooshing by.
(11:21) Robert Brokamp answers listener questions about 529 plans, target-date funds, and investing in a 401(k).
Companies discussed: SCHW, MS, PNC, BAC, MSFT, ATVI
Pullback report: www.fool.com/pullback
Got a question for the show? Email us at podcasts at fool dot com.
Host: Ricky Mulvey Guests: Asit Sharma, Robert Brokamp Engineers: Dan Boyd, Rick Engdahl
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