While Roth IRAs are technically retirement accounts, they are incredibly flexible and they have a few characteristics that make them particularly useful for college savings, especially if you’re not 100% sure you want to be saving money specifically for education. But there are some downsides too, and in this post we’ll explore the pros and cons.Read more…
Coverdell ESA: The Underutilized and Underappreciated College Savings Account
Posted October 31, 2017
The Coverdell ESA is probably the least understood and most underutilized of all the college savings accounts. In the right situations it offers most of the same tax benefits as a 529 plan with some additional flexibility to use the money tax-free in a wider variety of situations. Here’s an overview of the benefits and limitations.Read more…
How to Choose the Best College Savings Account (and When You Shouldn’t Use One)
Posted October 3, 2017
If you have children, chances are you’ve given at least some thought to saving for college, and probably to using a dedicated college savings account like a 529 plan. This post breaks down all your options, including when you should avoid a college savings account altogether, so that you can make the best decision for you and your family.Read more…
How to Choose the Best 529 Plan
Posted December 6, 2016
529 plans are great, but choosing the best 529 plan for your specific situation can be a daunting task. Almost every state offers at least one plan and some states have several, and they all have different pros and cons. How can you possibly sort through all that information and make a good choice? Here’s a simple 3-step process.Read more…
5 Good Reasons TO Use a College Savings Account
Posted February 16, 2016
Not everyone should use a dedicated college savings account, but in the right situations it can make a lot of sense. So how do you know when it’s the right move for you? This post breaks down five situations in which it makes sense, including the way to get the maximum benefit from these accounts. Read more…
