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Reply to "When to stop contributing to a 529 plan"
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[quote=Anonymous]Depends on a lot. Do you think kid will want to attend grad school? Can you afford to over fund a bit, or are you willing to leave it for future generations? Starting in 2024 (or 2025) you can use up to $35K excess to backdoor fund a Roth IRA for your kid if they have income (basically they need to qualify for a Roth and you can use excess up to $35K over multiple years total to fund a Roth). I'd do projections for having $80K/year for when kid will be 18. And then save extra outside of 529 for the rest. Top colleges will be over $90K in 6 years. But there is a chance your kid will go somewhere cheaper (with merit or a state school), so you are right to not want to overfund by too much. [/quote]
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