Roth IRA vs. 529

SteveMA
Sun, 30 Sep 2012 10:22:19 +0000

You need a different financial advisor. That is NOT true at all. The money stays in your 529 plan for as long as you want the money to stay in that plan. If your child doesn’t go to college, you can use the funds for taking classes, transfer the funds to another child or close relative, save the money and after age 65 use the money for retirement funds (subject to income tax). With the Roth, there are limits on how much you can take out, how you can take the funds, etc. as well.