If they are and you have your other core financial planning priorities like retirement in order, this might be helpful.
What is one of the best “College” savings tools, now can also be used for K-12 education!
Starting in 2018, tuition for public, private, or religious tuition is a qualified withdrawal.
So if you have a new baby in your life, extra funds, and the desire to get some tax free growth in a 529
It’s also a great way to give something to the child that will grow with them into something meaningful, rather than a toy or clothes that they will quickly grow out of. In our family, some use birthdays and Christmas as an opportunity to help out with college, instead of adding clutter to the house.
If you have any questions about this idea, please let us know, we’d be happy to brainstorm with you!
Thanks for taking a look!
Tom Gartner, MSAPM, CFP®
This article represents opinions of the authors and not those of their firm and are subject to change from time to time, and do not constitute a recommendation to purchase and sale any security nor to engage in any particular investment or legal strategy. The information contained here has been obtained from sources believed to be reliable but cannot be guaranteed for accuracy.