Reply to If your kid doesn't spend their 529, what will you do with that money?

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Reply to "If your kid doesn't spend their 529, what will you do with that money?"

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]Move whatever I can to Roth IRAs for them and leave the rest in the 529 for them to use for any future grandkids.[/quote]

This exactly. [/quote]

OP, if it were my son I would tell him that the money would be available to him for grad school if he doesn't use it all, and to fund his Roth the first several years he is working.  But I would not tell him he could cash the whole thing out as some kind of incentive bonus to go to a cheaper school - it's my money that I've saved, earmarked for education.  Not his money that he can spend on either an expensive school or a cheap school and a car, for example.[/quote]

This sounds reasonable to me. But make sure he understands that it is YOUR money, not his and YOU will decide how best use the money. If he wants to pick a different school because it's not "his money", he has a lot of growing up to do. We paid kids grad school and med school with 529 because two out of three kids received full ride scholarships at UMD. I moved money around between three kids as needed. Never heard one complaint from any of them. [/quote]

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