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[quote=Anonymous][quote=Anonymous]OP - Don't save for college in your roth IRA - that's bad advice.

As a PP suggested, save for yourself in your Roth IRA first.  After maxing out your retirement, setup 529 plans for your kids.

If your HHI is less than 190K, you can also do a coverdell IRA for each kid.  You can contribute 2,000 per kid.  That's not a ton, but you can use these funds for room/board, tuition, computers, supplies, etc.  It is definitely worth doing and you can invest however you want, i.e., individual stocks, mutual funds, bonds, etc.  The choices are entirely yours.

If you are in VA, you get a state tax deduction of $4,000 per account per kid for the VA 529 plans.  So if you and your husband want to set aside 16,000 for your kids one year, each of you can set up 2 accounts for each kid (they have to be different investments (1 could be aggressive stock fund and 1 could be conservative stock fund) and you can take the full 16,000 deduction in one year.  [/quote]

Not saying this is wrong, but I know in MD no matter how many accounts you can only deduct for each kid not each account. [/quote]

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