Nobody loves a good holiday gift guide more than me, but this season I wanted to gently de-influence us all a little bit and invite you to consider a gift that actually keeps giving to a child you care about. š
If youāre interested in comparing different statesā 529 plan offerings, comment 529 and Iāll DM you the resource I used when researching and comparing plans. š
A 529 plan is an investment account that allows contributions to grow tax-advantaged when used for qualified education expenses, including Kā12 tuition (subject to limitations), college, trade school, and certain training programs. The account owner retains control, the beneficiary can be changed if a childās path evolves, and under current law, unused funds may be rolled into a Roth IRA for the beneficiary within applicable lifetime and annual limits. š
Itās also important to know that you are not required to use your home stateās 529 plan. For families living in states without a state income tax, there is often no...
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