Best (tax advantaged) way to save for private school in ten years?

[Anonymous]

Have 10 to 12 years to save and two kids. Income exceeds max for Coverdell account. Already saving sufficiently for retirement and college(various 529 plans). Any tips on how to put something away in case we have to/want to pay for private high school? Does an annuity make sense? Anything else?

TIA

[Anonymous]

Prepay the 529 and carry over the tax benefit. Time value of money.

[Anonymous]

Set up a savings account in your kids names and then they can contribute directly to their own Coverdell account.

Even though it's only 2k per year, that's still 20K over 10 years.

If you're in VA, you can do multiple 529 plans per kid (and still take the deduction for each contribution as long as each account holds a different investment.

[Anonymous]

Great idea in the kids savings accounts/coverdall contributions. Thank you!