Roth IRA vs 529 Plans
College tuition might be fresh on your mind now that the kids and grandkids have been back to school for a while. You may be considering helping a child, grandchild or loved one with the cost of higher education.
Record-high tuition costs have many families exploring the various options available to them, including 529 plans and Coverdell accounts, but many fail to realize that a Roth IRA could also be a viable option to help fund a college education. Roth IRAs provide a flexible alternative to 529 plans, but that doesn’t necessarily mean they are for everyone. FAFSA eligibility, taxes, as well as account limitations and requirements are all factors that should be considered in order to select the investment options that best fit you and your loved one’s needs.