The Motley Fool Discussion Boards

Previous Page

Financial Planning / Tax Strategies


Subject:  Re: Uncharted waters Date:  10/11/2012  9:31 AM
Author:  aj485 Number:  116776 of 129252

I think the main issue with IRA/ROTH IRA is that DD would be able to do something foolish, as opposed to Foolish, once she hit 18.

With 529, it must go to educational expenses.

Not so fast. Just like an IRA/Roth IRA can be used foolishly by her, so can a 529, if it's in her name. Only if the 529 is in your name can you control the disbursement of funds.

Copyright 1996-2019 trademark and the "Fool" logo is a trademark of The Motley Fool, Inc. Contact Us