Here are the pros and cons of using a 529 or a Roth IRA to pay for college. A 529 plan, also called a qualified tuition plan, ...

Two popular options are 529 plans and Roth IRAs. Image source: The Motley Fool A 529 plan is specifically designed to save for college costs and graduate school. Annual distributions of up to $ ...

The SECURE 2.0 Act, which became law in December 2022, changes the 529 plan rules to permit rollovers of some funds from these college savings accounts into a Roth IRA. It could allow transfers to ...

Reason No. 3 to use a 529: Unused funds can be converted to a Roth IRA. One issue with 529s has been if the plan is overfunded and the funds remain unused. For families on a tight budget ...

That's welcome news to families worried about having leftover or unused funds in a 529 plan account. The new Roth IRA rule, included in the SECURE 2.0 Act, will help beneficiaries avoid both taxes ...

Additionally, said CNBC Make It, "beginning in 2024, beneficiaries will have the option to roll over some 529 plan funds tax- and penalty-free into a Roth individual retirement account (IRA)." ...

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 ...

Plan for your future and learn about a Roth individual retirement account (IRA) and its contribution limits. Decide if it's the right account for you.

A 529 plan is a tax-advantaged way for parents to ... unlike for other tax-advantaged accounts such as 401(k)s and Roth IRAs, though some limits do exist. States often impose their own lifetime ...

If you’re unable to contribute to a Roth account directly, there’s good news — you can convert a traditional retirement plan ...

If you're looking to set aside money for your children or grandchildren, two great options to consider are 529 Plans and UTMA ...