529 to Roth IRA
A recent provision allows parents to roll over excess funds from a 529 plan into a child's Roth IRA, offering a way to avoid penalties on overfunded accounts. While the $35,000 lifetime limit may seem appealing, contributions must be made incrementally each year, and the existing Roth IRA limits still apply. This change provides a valuable tool for parents looking to optimize their financial planning without getting lost in the complexities of the new regulations.In this clip
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421 | Secure Act 2.0 Deep Dive | Sean Mullaney
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