Ask Ryan and Hannah: What to Do with a 529 Plan If College Isn’t the Plan (DF#189)
About this episode
This episode discusses managing funds in a 529 plan when college is not the intended path, exploring options and implications for parents.
Join us as we dive into the topic of managing funds in a 529 plan. We address a question from a parent who is uncertain about how to handle the money in their child's savings plan if college is not pursued. What You’ll Learn: - Exploring the tax advantages and qualified expenses associated with 529 plans- Discussing options such as changing beneficiaries, rolling over funds to a Roth IRA, or using the funds for education paths like trade schools or apprenticeships- Highlighting the implications of withdrawing funds from a 529 plan, including tax penalties and advice from financial professionals Join us as we navigate the complexities of managing a 529 plan and provide valuable insights on making informed decisions regarding education savings. Whether you're a parent planning for your child's future or seeking education paths, this episode offers practical advice and considerations to help you navigate the financial landscape. Ready to set your teen on the path to success after high school? Apply for our Degree Free Launch Program and let's build them a personalized career roadmap: https://degreefree.com/launch/ To keep up with everything Degree Free check out our website…
More episodes of Degree Free
- Career Planning for Middle and High Schoolers (DF#196)
- How to Talk to Your Teen About Their Future Career Path (DF#195)
- From Lost and Stuck to Career Ready: A Parent's Action Plan (DF#194)
- Turn Awkward Family Chats Into Job Leads for Your Kid (DF#193)
- When College Isn’t The Plan — How to Really Talk With Your Kid (DF#192)
- What If College Isn’t the Plan: How to Help Your Teen Thrive (DF#191)
Explore listener stats, chart rankings, contacts and more on the Degree Free podcast page.