“An investment in knowledge pays the best interest.” – Benjamin Franklin

A New Option for 529 Plan Funds

Investing in a 529 plan is one of the most popular ways families save for their children’s education. However, what happens to the money if the beneficiary doesn’t go to college or doesn’t need the full amount in the account? Starting in 2024, the SECURE 2.0 Act has instituted a new provision that allows account owners to roll unused 529 funds into the plan beneficiary’s Roth IRA without a tax penalty. Full article here: A New Option for 529 Plan Funds May 2024