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…
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…
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…
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…
