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College and University Discussion
Reply to "How much in their 529?"
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[quote=Anonymous][quote=Anonymous]DC is only child. What if we save too much and she decides to go to UMD. Has anyone had this happen and paid the penalty to withdraw the extra money? I would like to save enough for private or OOS to be an option but I do wonder about if I should put anything over 100K in something other than a 529 on the off chance she does go in-state[/quote] You can roll over up to 35k to a Roth IRA, use excess funds for grad school (should she decide to pursue it) or any other academic programs, or transfer the balance to future grand children (or any other family members you’d like yo help out) before facing the withdrawal penalty [/quote]
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