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Author: PSUEngineerFool Big funky green star, 20000 posts Top Favorite Fools Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 8178  
Subject: Re: Using a Roth IRA for education Date: 4/14/1998 3:52 PM
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You have not screwed up the logic. The Roth IRA can be a good way to fund education.

And you don't have to pay tax on the contributions to the IRA, just on the earnings.

A good plan is for both you and your spouse to contribute $2000 per year to a Roth IRA. Potentially this can add up to $72,000 in contributions if done from birth of the child. Take the contributions out tax free at college time and leave the earnings in the Roth IRA for retirement.
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