With multiple new Planning paths being formed, we are cautious to process, but glad to review…
Here is a relatively new technique, one we have not completed yet, but are watching carefully….
We would really like the IRS to chime in – on someone else first …
Early adopter, not trendsetter, but close!
New ways to invest an old possibly unused 529 –
There are rules: Dangit
The 529 needs to have been open 15 years
Currently $7500/year up to a max of $35k (or one time $35k) – we hope this will be inflated/increased over time
Contributions to the 529 in the last five years will not be available for Roth transfer
These rules are changing…so we will keep our eyes peeled for more uses as the changes continue!
Remember you can transfer that 529 to other relatives … they cannot be too distant, but far enough you may not be spending every Thanksgiving with them….
A 529 can be used for not only higher education, but lower as well… think prep schools and the like
If you have exhausted all other options, the transfer to a Roth might be the trick… Remember it is only, $35k as of now.
Have a Great “529 to Roth Update” Day!
John A. Kvale CFA, CFP
AI Content Authenticity: AI created the image. All of the following text content has been completed by myself and has not been edited or created by AI. Occasionally we do use AI for images and will note when appropriate.
Founder of J.K. Financial, Inc.
A Dallas Texas based fee only
Financial Planning Total Wealth
Management firm.
