White Coat Investor Podcast WCI #315: 529's, Inheritance and Roth IRAs For Kids
4 snips
May 18, 2023 AI Snips
Chapters
Transcript
Episode notes
Wait on 529 to Roth Rollover
- Don't act yet on Secure Act 2.0's 529 to Roth IRA rollover until implementation details are clear.
- Consider it just another option for excess 529 funds, not a game-changing strategy.
529s for International College Use
- Check if the international college is on the official StudentAid.gov list to use 529 funds.
- If uncertain where your child will attend, use a taxable investment account instead of a 529 for flexibility.
Grandparent-Owned 529 FAFSA Benefit
- Grandparent-owned 529 plans don't impact FAFSA financial aid; parental-owned do at about 5% rate.
- Use this for aid planning only if you trust grandparents, as they control the money and its use.