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College and University Discussion
Reply to "How many here do not have a 529 savings account, on purpose?"
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[quote=Anonymous][quote=Anonymous]This is for people who are educated about 529 accounts and can afford to set aside cash but have weighed the pros and cons, and decided not to set it up. If you are one of those- what were your reasons? My DH and I have had this conversation so many times and he firmly believes that we can grow our money better elsewhere and not have to deal with the hassle- especially since we may have to move to different states for our job. Thank you for the insights.[/quote] I don't use a 529. I just pay the tuition from my income, or, if I need to, I will use my IRA (I have a SEP IRA, so contribution limits were pretty high) There's no withdrawal penalty if used for educational purposes (of course, you pay income tax) and I can choose whatever stocks I want to invest in, so it's worked out well. [/quote]
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