529 Plans and the New Year

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529 Plans and the New Year

529 plans are touted as a way to save for your children’s education. But saving money in a 529 plan is a lot like sending your money to jail. Once your money is in a 529 plan you can’t use it for anything other than education. If you need to use that money for other purposes, you’ll pay a hefty penalty!

But there is a way to get money out of a 529 plan without paying a penalty. On this episode of Wealth Talks, Tom and John will explain how to do this.

Also on this episode: How to set your Financial New Year Resolutions in 2021


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