Why I Won't Use a 529 Plan for My Kids College

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In this episode, I explore the best strategies to save for your kids' college education, breaking down the pros and cons of 529 plans, Roth IRAs, and taxable brokerage accounts. From understanding state-specific tax advantages to leveraging the flexibility of brokerage accounts, I explain how to balance tax benefits, investment control, and flexibility. Whether you’re planning for scholarships, trade school, or a traditional college education, this episode provides actionable insights to build a smart, tax-efficient plan for your child's future.

Timestamps:

00:00:00 Intro: Why saving for kids' education is critical

00:01:07 529 plans: State-specific options, pros, and cons

00:03:49 Limitations of 529 plans and how to roll over unused funds to a Roth IRA

00:06:41 Roth IRA for kids: Flexibility, benefits, and income requirements

00:09:24 Why Roth IRAs are a powerful wealth-building tool for education and beyond

00:10:19 Taxable brokerage accounts: The overlooked education savings option

00:12:31 How gifting stocks to kids in low tax brackets can eliminate taxes

00:13:25 Combining strategies: Creating a comprehensive savings plan

00:14:05 Key factors: Tax benefits, flexibility, and control over investments

00:15:00 Closing thoughts: How to align education savings with your financial goals

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*None of this is meant to be specific investment advice, it's for entertainment purposes only.