529s, Inheritance, and Roth IRAs for Kids

Today, we answer your questions about 529s. We try to help clarify the changes coming with Secure Act 2.0. We talk about if it would make sense for 529s to be under a grandparent’s name to avoid your child not qualifying for FAFSA. We discuss if it is smart to save in a 529 if you aren’t sure if your child will attend college in the US. Dr. Jim Dahle answers questions about his family’s plan for inheritance for their kids and discusses which funds to choose for your kids’ Roth IRAs. We even touch on the topic of how much is reasonable to spend on an engagement ring.

Listen to Episode #315 here.


Secure Act 2.0 and 529 Changes 

“Hi, my name is Brian from the East Coast. My question pertains to the new Secure 2.0 changes to 529 plans. Specifically, I understand that now $30,000 of unused education expenses can be rolled into the beneficiary’s Roth IRA. I also understand that the account needs to be open for 15 years, and another premise here is that my state allows $10,000…

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This article was written by Megan Scott and originally published on www.whitecoatinvestor.com