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…
5 Good Reasons NOT to Use a College Savings Account
Posted February 9, 2016
As soon as you have kids, you’re supposed to open a college savings account, right? The only question is which type and how much to save, right? Wrong. While college savings accounts can be great, the truth is that both you and your kids may be better off not using one. Here are 5 reasons to consider avoiding them.Read more…
Why Saving for College Isn’t One of Our Top Priorities
Posted March 24, 2014
A lot of parents feel like they have to put college savings at the top of the list of financial priorities. They feel guilty if they don’t, like they’re letting their kids down. But putting other priorities first not only doesn’t make you a bad parent, it might actually mean you’re a really good one. Here’s why.Read more…
