In this episode, we take a detailed look at the options available to save and invest for college. We discuss 529 plans, UTMAs and UGMAs and non-traditional approaches. We also discuss financial aid, grandparent 529s and a lot more.
02:47 - The advantages of 529 plans
04:09 - 529 contribution limits
05:36 - What are qualified 529 expenses?
06:30 - Different state 529 plans
07:38 - The flexibility of 529s
10:05 - UTMAs and UGMAs
14:01 - What counts against financial aid?
16:06 - Using tradional taxable accounts for college savings
17:24 - Figuring out how much to save for college each month
19:47 - Grandparent 529 plans
21:55 - What happens if you don't need the money in a 529 for education expenses
23:09 - Converting 529s to Roth IRAs
24:48 - Summary of biggest lessons from episode
#collegeplanning
#collegesavings
#529
#financialaid
ABOUT THE PODCAST
Learning how to be a financial planner is one thing. Doing it is another. Follow along with new financial planners Jack Forehand (@practicalquant) and Justin Carbonneau (@jjcarbonneau) as experienced veteran Matt Zeigler (@cultishcreative) helps them navigate the complex world of financial planning and learn about the most important topics that impact all of our financial futures. From investments to retirement to college planning to estate planning to insurance and beyond, we will cover the major financial planning issues that impact all of our lives and will provide a framework to help investors tackle them. We hope you will join us on our learning journey.
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