The Motley Fool Discussion Boards

Previous Page

Financial Planning / Tax Strategies


Subject:  Mortgage vs. 529 Plan Date:  5/27/2004  11:43 AM
Author:  mranderson Number:  72005 of 132792

Hi Everyone,

My wife and I recently purchased a summer home and took out a mortgage to finance it. We have no other debt (primary residence is paid for).

I currently have "529 Plans" set up for my three children. I'm from Wisconsin and contribute to the state's 529 Plan (the contributions are a deduction from taxable income on the state's tax return).

Does anyone see a benefit of stopping the 529 contributions and applying these monies to the mortgage payment?

Thanks for your time.

Copyright 1996-2021 trademark and the "Fool" logo is a trademark of The Motley Fool, Inc. Contact Us