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Reply to "What should do with a $400k influx of money?"
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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]Should I do these things in this order: 1. Max out IBonds 2. Get 529s to the point where they will generate enough for 4-year private university assuming 5% annual return 3. Put the rest in CDs earmarked for private school and/or other expenses[/quote] Put in enough money into 529s that would pay for instate tuition and room&board and other qualified expenses. Put the money that would allow them to go to private university in a regular saving vehicle. That way you can use it for other things if they end up at a state school or with a decent amount of merit aid. [/quote] Extra 529 plan $ can now be converted to Roth IRAs which is amazing. No worries about extra funds and great savings vehicle.[/quote] Not all of it though. Only something like $35k can be converted to a Roth.[/quote]
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