Dear all,
I need help choosing the best way to save for our first child as I've no experience.
My state doesn't offer any tax advantages for 529 plans and our income is 190K which is above the limit for roth IRA.
My question is: why saving into a 529 plan and limiting the money to educational expenses and not puting that money into my personal investment account or even a separate investment account and that way the money will be used for other-non educational expenses?
Any useful tips?
Thank you
I need help choosing the best way to save for our first child as I've no experience.
My state doesn't offer any tax advantages for 529 plans and our income is 190K which is above the limit for roth IRA.
My question is: why saving into a 529 plan and limiting the money to educational expenses and not puting that money into my personal investment account or even a separate investment account and that way the money will be used for other-non educational expenses?
Any useful tips?
Thank you
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