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I'm thinking of starting a 529 for my infact son ... Want to support this with an education IRA

I'm sure someone will chime in here with more details, but I'm pretty sure you cannot contribute to a 529 and E-IRA in the same year. If you can, then I don't see any reason that your plan would not be a good idea for your situation.

I've looked into the 529 plan for my state and those that are recommended as the "best." I haven't found them attractive due to all the constraints and potential penalties.

I have decided to save in a Roth-IRA for my kids. I don't recommend this as the "right" or "only" way, I've decided it is the best for me.

If you cannot contribute to a E-IRA while funding the 529, your other options include (order does not indicate rank):
- Trust
- UTMA/UGMA - irrevocable gift of money, stocks, or real estate that becomes the childs at a specified age (18-21 in most states)
- save in your own 401K or Roth
- save in your own name

Hope this helps. Your son is very blessed to have such a prepared Dad. Good work.

smoot
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