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Old 11-21-2020, 03:29 PM
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Excargodog
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Originally Posted by PGTx View Post
How are people funding their child's college/future? 529 plans sound great but major downside is that it has to be used for education. I'm sure universities will be around in 20 years but there are many alternatives so that's a risk. Mutual funds have greater flexibility but have to pay income tax on withdrawals.

I'm thinking mutual funds and just paying for my child's taxes for any withdrawals, not sure how that works as college students are still dependents. I'm also hoping to pay for some/most of the college tuition so this route allows my child to use the money for other purposes, like flight training 😂
You can invest in mutual funds within a 529 plan. Ask the pros:

https://investor.vanguard.com/529-plan/


And you can use those withdrawals tax free for any QUALIFIED expense. Unqualified expenses you will owe tax on. But the list of qualified expenses is getting bigger all the time.

https://www.fidelity.com/learning-ce...e-529-spending
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