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After being used to pay down debt, any leftover 529 money could then help kickstart a child’s retirement funding, ... A 529 plan can now do much more than it could even a few years ago, thanks ...
Owners of 529 college savings plans got a potentially lucrative boost from the $1.7 trillion omnibus spending bill that passed in late December, thanks to a measure that allows unused money in the...
"A rollover option for unused savings in the 529 account allows a family to better utilize the investment opportunity without the fear of being penalized for leftover funds should a child decide ...
The 529 plan must be open for at least 15 years before attempting the 529-to-Roth rollover. And funds deposited in the last five years and their associated interest are not eligible for this transfer.
Can jumpstart a child’s retirement savings: Any leftover money in a 529 plan can be used to help a child get a good start on tax-free retirement savings. Cons of converting a 529.
Starting in 2024, unused 529 funds can be rolled into a Roth IRA tax-free, thanks to the SECURE 2.0 Act, giving families more flexibility with college savings.