Roth IRAs vs. 529 Plans
Source: Edd Slott and Company LL
Back-to-school season is upon us, which serves as a great reminder to consider how you can help your children or grandchildren fund their higher education.
There are two popular options: a 529 plan or a Roth IRA. 529 plans are a well-known option designed specifically for this purpose. Distributions from a 529 plan can be used to cover the cost of attendance at a public, private or religious K-12 school in addition to higher education. However, a Roth IRA can provide more flexibility, allowing you to earmark as much or as little as you want for higher education expenses.
To learn which of these two options is best for you, follow link to download “Planning to Save for Higher Education: Roth IRA vs. 529 Plan.” https://bit.ly/3MoR30K
For professional assistance with your education planning needs, contact our office at 856-401-1101 to schedule a time for a visit.
P.S. Have unused funds in a 529 you’d like to move to a Roth? There are new options available now under SECURE 2.0, but some limits and fine print to navigate. Let’s discuss if this is of interest!
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