With the passage of the SECURE 2.0 Act, any unused 529 plan funds up to a lifetime limit of $35,000 can be transferred to a Roth IRA for a beneficiary, free of taxes and penalties. There are ...

The next best use of an unused 529 plan is to roll it into a Roth IRA. With a lifetime cap of $35,000 and other rules that apply, I view the move as a perfectly reasonable one to make to help give ...

Savings accounts protect your money and allow you to earn interest. The downside: You'll have to pay taxes on earnings unless ...

College is expensive, but there are several valuable tax breaks that can help ease the pain. You may be able to cut your tax bill by up to $2,500 if you're paying college tuition, and you may even ...

Best investment accounts for kids Teen-owned brokerage account 529 college savings plan Coverdell education savings account Custodial Roth IRA UGMA or UTMA custodial accounts Who's this for?

A 529 plan, even with its contribution limits ... "You can think of a 529 account like a Roth IRA account, except it's for education purposes instead of retirement" he says.

These include: Beneficiaries can avoid paying income taxes as well as the 10% penalty by rolling over a lifetime maximum of $35,000 from a 529 plan into a Roth individual retirement account (IRA ...

Create a lasting legacy that goes beyond finances. This article explores strategies for transferring both wealth and values.

Also, the SECURE 2.0 law provides a new option for rolling over unused 529 college-savings plan money to a Roth IRA. The 529 plan must have been open for the designated beneficiary for at least 15 ...