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re: 401k for kid's college tuition
Posted on 10/26/11 at 10:07 am to GoTigers23
Posted on 10/26/11 at 10:07 am to GoTigers23
No, but I will be retiring at age 55 and it is my understanding that you can make penalty free withdrawals from a 401k if you retire at age 55 or later. Is this correct? My son will start college the next year when I am 56.
This post was edited on 10/26/11 at 10:10 am
1
Posted on 10/26/11 at 10:21 am to TheFolker
One thing to think about would be that if you take money out of your 401k, you get taxed at your rate. If the rules end up changing and 529s do eventually get taxed, it will be at the kids' rate.
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