The post whore thread.

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Originally Posted by Mazin

And becoming a yes man too

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NO! [Mad]

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Originally Posted by HoneyBadger

529 or ESA. I believe inside a 529, the earnings are tax free (like a roth IRA), but you are limited to $2000/yr of investment and you can only use it for education-related expenses. If you end up with extra money at the end, you pay hefty penalties to pull it out for non-education use.

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Can you keep left over money in there and use it like a normal IRA after a certain age?

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Originally Posted by HoneyBadger

NO! [Mad]

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Good there is still hope [Coffee]

ABANDON HOPE, ALL YE WHO ENTER

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Originally Posted by Great-Kazoo

ABANDON HOPE, ALL YE WHO ENTER CALIFORNIA

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Originally Posted by Irving

Can you keep left over money in there and use it like a normal IRA after a certain age?

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I think you are penalized on anything that is not specifically used for education expenses, but I could be wrong on that. IRS site is not particularly helpful: https://www.irs.gov/uac/529-Plans:-Q...ns-and-Answers

Also, I think I was wrong about the maximum annual contribution bit above. It might be $14k/yr.

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Originally Posted by Great-Kazoo

ABANDON HOPE, ALL YE WHO ENTER

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For the whore has no remorse.

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Originally Posted by Mazin

For the whore has no remorse.

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Rinse, repeat, reapply.

crickets

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