My plan as of now, and certainty is subject to change when the early purchases of I bonds mature in a few years ,move all the proceeds into a 529 plan. I do have a child who, is done with school and grandchild who is just starting college, her 4 years is paid for by another grandfather. Being in a very low tax bracket now, already retired, It seems to me NOT going the 529 route makes zero sense.
Most posters are really opposed to the 10 per cent penalty for withdraw if not used for qualified expenses. WHY?
It seems to me a no brainer going the 529 route, and if I need the funds down the road pay my taxes, which would be minimal along with the 10 per cent penalty.
If i don't need the money in my life time just pass it along to my daughter and let her do with as she chooses .
Am I missing something?
Most posters are really opposed to the 10 per cent penalty for withdraw if not used for qualified expenses. WHY?
It seems to me a no brainer going the 529 route, and if I need the funds down the road pay my taxes, which would be minimal along with the 10 per cent penalty.
If i don't need the money in my life time just pass it along to my daughter and let her do with as she chooses .
Am I missing something?
Statistics: Posted by ocean — Sun Jul 28, 2024 8:25 pm — Replies 4 — Views 470