Good morning-
Briefly, I am looking for some guidance on strategizing the next phase of my family's lives as college is approaching.
I have a few questions about 529 plans, particularly with the new elements of the Secure 2.0 Act.
My net worth is low 7 figures, income low 6 figures-will FAFSA even matter?
We live well below means, kids are doing well, but not full-ride scholarship well, oldest is quietly leaning toward private school (yikes?), middle wants Big 10 campus, youngest will likely follow oldest.
Each of our kids has approx $135K in 529 (WI EdVest). Should I skim some off and open a Roth IRA for the younger two, the oldest (HS Senior already has one)?
Should my wife and I covert our 529 to Roth IRA-each has approx $30K?
These questions are somewhat vague, but they are the core of my questions at this point and I'm wondering which professional I should seek out for consultation-CPA or financial planner? I really don't want a full-on comprehensive financial plan, rather specific strategies for the next 10 years.
Are there any insightful websites, blogs, books, online services that any of you found helpful?
Thanks everyone!
Briefly, I am looking for some guidance on strategizing the next phase of my family's lives as college is approaching.
I have a few questions about 529 plans, particularly with the new elements of the Secure 2.0 Act.
My net worth is low 7 figures, income low 6 figures-will FAFSA even matter?
We live well below means, kids are doing well, but not full-ride scholarship well, oldest is quietly leaning toward private school (yikes?), middle wants Big 10 campus, youngest will likely follow oldest.
Each of our kids has approx $135K in 529 (WI EdVest). Should I skim some off and open a Roth IRA for the younger two, the oldest (HS Senior already has one)?
Should my wife and I covert our 529 to Roth IRA-each has approx $30K?
These questions are somewhat vague, but they are the core of my questions at this point and I'm wondering which professional I should seek out for consultation-CPA or financial planner? I really don't want a full-on comprehensive financial plan, rather specific strategies for the next 10 years.
Are there any insightful websites, blogs, books, online services that any of you found helpful?
Thanks everyone!
Statistics: Posted by mc2 — Tue Sep 03, 2024 8:12 am — Replies 5 — Views 345