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Reply to "if money were limitless + 529s question"
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[quote=Anonymous][quote=Anonymous][quote=Anonymous]You may already know, but the account is maxed at $350k[/quote] Exactly. I am not sure what the point of this thread is when 529s are capped and you'll have to eat penalties for any amount over the cap.[/quote] The VA cap is 350K. That is when you must stop contributions. The account balance can grow beyond that amount and there are no penalties. My rough model has the balance at around 500K when the kid gets to college. We use 400k of that for two degrees, and let the rest grow interest free for 30 years for his kids. [/quote]
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