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College and University Discussion
Reply to "Overfunded 529? What to do with the money? "
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[quote=Anonymous]Let's re-focus on the question that was asked. "We aren’t there yet but it looks like we won’t need all of the 529 funds set aside for dc (2 dc). I’ve already moved money as needed between my two children, but it still looks like we will have extra. What can be done?" Suggestions include: 1) roll it into a Roth for the kids (question: can this be done for both of the DC?), my guess is yes if the 529 was set up for each DC 2) Save it for grandkids 3) Offset the amount of scholarships by removing it and saving it for post-college housing but possible tax ramifications for college student. Our financial advisor kept a close eye on our funds - and stopped adding more investments to it once we had a sense of what we would need so we could have a more even balance of what was used and what was remaining. They recommended we use other investments to cover expenses like rent and travel (fly away school which adds up over 4 years). [/quote]
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