The Stacking Benjamins Show cover image

The Magic of Your Dream Job, Team, & Community All at Once

The Stacking Benjamins Show

00:00

Is There a Tax Advantage to a Roth IRA or a 529?

Jason: I don't see the big advantage to saving in a 529 account We'll be around 50 by the time he goes to college and plan to be retired by that time. It seems like a 529 would operate like a Roth in that money could be taken out tax-free, but only for school However, if our son doesn't go to college, I'd rather not take a 10% penalty on the gains Also, we live in an income tax-free state. There's no tax incentive for contributing to a 529 As long as we're mentally keeping college money separate from retirement money.

Play episode from 54:36
Transcript

The AI-powered Podcast Player

Save insights by tapping your headphones, chat with episodes, discover the best highlights - and more!
App store bannerPlay store banner
Get the app