See Does Primerica Do College 529
Pics. And 14% of dollars saved for college are being held in. A boondoggle for the rich that does nothing to.
529 plans are great savings vehicles for college, after all, that's what they were created for, but there may be better options. Esa's (formerly known as the education ira) had been a popular planning tool for college up until the creation of the 529 plan and i very seldom ever come across them. Hi j.,529 funds are a good way to go.
These plans can be categorized as either prepaid plans or savings plans.
A unique feature of 529 college savings plans is a waiver from the regular tax rules that apply to gifts. A roth ira provides more flexibility, but with stricter contribution limits. You cannot use assets in a 529 for anything else (including retirement) without paying taxes and penalties. Td ameritrade does not provide tax advice. These plans can be categorized as either prepaid plans or savings plans. 529 plans, legally known as qualified tuition plans, are sponsored by states, state agencies, or educational institutions and are authorized by section 529 of the internal revenue code. Before you jump into a 529 plan, though, it's important to know all the features that make these college savings accounts special. What's a 529 college savings plan & how does it work???!!