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re: 529 START Funds
Posted on 8/25/22 at 8:32 am to couyon2
Posted on 8/25/22 at 8:32 am to couyon2
While 529 funds are great, you should look into other IRA and UTMA options. They can be used towards the coat of education. What if your child decides not to go to college? They can use that towards a business startup or down payment on a home. Just speak to an advisor that can give you the pros and cons of each. As you can tell from the responses on this board, they each have their benefits.
1
Posted on 8/25/22 at 10:32 am to Tomcat
quote:
While 529 funds are great, you should look into other IRA and UTMA options.
UTMA sure but again there are pros/cons compared to 529.
IRA is a completely different ball game because I think it needs to be earned income. I also think technically chores around the house don't count. There are definitely ways that you can find earned income for relatively young kids but the vast majority of kids won't have any real amount until just before college which doesn't give any time for growth.
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