529 Plan vs. Coverdell ESA – Which One Should You Choose?
When it comes to saving for your child’s education, 529 Plans and Coverdell ESAs both offer tax-free growth, but they have significant differences that could impact your financial strategy.
In my latest video, I break down the pros and cons of each option, including:
- Why is the 529 so popular? Many families choose this plan for its higher contribution limits and state tax benefits.
- Why Coverdell? A great alternative with more investment flexibility but lower contribution limits.
- 529 Basics – Understanding how the plan works, tax benefits, and rules.
- What happens to leftover money? If your child doesn’t use all the funds, what are your options?
- Qualified Education Expenses – What expenses you can use the funds for without penalties.
- Non-Qualified 529 Plan Expenses – What happens if you use the funds for non-educational expenses.
💡 Which one is right for your family? Watch the full video to get the insights you need: https://youtu.be/ew5BKu_7CTY
If you need help creating a personalized education savings strategy, let’s chat! Book a discovery call here:
🔗 https://app.acuityscheduling.com/schedule.php?owner=14522012&appointmentType=62563958
👉 Also, check out our previous video where I break down Roth IRAs vs. IULs and how they fit into your financial plan: https://youtu.be/b50q2lOhFSY
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