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Message
re: Best Method to Save for Childrens College?
Posted on 4/30/24 at 6:26 am to CharlesUFarley
Posted on 4/30/24 at 6:26 am to CharlesUFarley
quote:
If you have a lot of money in a traditional or rollover IRA, you might also consider a Roth conversion or a series of Roth conversions. If your conversion has been in your Roth for five years, you can get the conversion amount tax free without penalty. That's one reason why it is often better to max out your retirement accounts before you try to save for college.
I converted an IRA to a roth a few years back and had to pay the tax on the conversion.
Have 3 ira's
A roth
Traditional
and SEP
Popular
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