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Hidden Perks of 529 Plans under the New Secure Act 2.0

November 06, 2023

Discover the hidden potential of 529 plans and the exciting new twists introduced by the Secure Act 2.0. This episode is a goldmine waiting to be discovered if you're curious about how these changes can revolutionize your child's college fund or even help with your first-time home purchase.

In this episode, we dive deep into the quirks and benefits of 529 plans. These investment plans not only provide a means to save for a beneficiary but also offer the unique advantage of tax-free withdrawals. You can contribute to a 529 plan, watch your investment grow, and when the time comes to use the funds, you won't be burdened by taxes.

Under the New Secure Act 2.0, 529 plans have become even more powerful tools for financial planning. The Act introduces exciting new possibilities that can be game-changers for your financial goals. For example, you can now use 529 plan funds to cover qualified expenses for K-12 education, expanding the plan's scope and allowing you to start saving earlier. Additionally, provisions in the Secure Act 2.0 make 529 plans more flexible, such as the ability to roll over funds to an ABLE account, which supports families with special needs.

Join us as we unpack the hidden perks of 529 plans and explore how they can benefit you. From tax advantages to flexible withdrawal options, this episode will equip you with the knowledge to make the most of your investment. Tune in and unlock the untapped potential of 529 plans to secure your financial future.

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