138-Masterclass on 529 Plans a.k.a. Qualified Tuition Programs - Part 1

We're continuing our college series with an in-depth discussion of 529 plans. 529 plans are incredibly popular in all their permutations. (Many people who are currently participating in a 529 plan don't actually realize it because they refer to it as a pre-paid tuition program.) They're also under attack. President Obama's most recent budget proposal targeted them for change. (It also targeted Coverdell ESAs.) Personally, I think 529 plans are often misused and mis-applied. The majority of the mass affluent who participate are simply not getting a huge benefit in exchange for giving up the freedom and flexibility of the money. But, there are a number of things that can be done with these accounts that are really unique. Enjoy part 1 of our class today and learn: What the differences are between various types of 529 plans. Who they're a great fit for. How to use them to pay for travel and real estate tax-free. The history of the legislation affecting these accounts. Enjoy! Joshua Links: A Comprehensive Guide to the Ultimate Education Account a.k.a. the Coverdell Educational Savings Account IRS Publication 970: Tax Benefits for Education