Are you feeling overwhelmed by the options available for college savings? Wondering what the differences are between College Savings Plans and Prepaid Tuition Plans in a 529 account? In this episode of The Ask Ralph Show, Ralph Estep Jr. breaks down the essentials of both types of 529 plans to help you make an informed choice for your family’s educational future. Ralph shares real-life examples, explores the tax advantages, and offers insights into which type might be better based on your unique goals. Tune in to find out more about how each of these Two Types of 529 Plans works and which could be the best fit for your family’s needs.
https://www.askralphpodcast.com/two-types-of-529-plans/
Podcast Timestamps
00:00 Episode Overview
01:00 Listener’s Question: Understanding 529 Plans for Education Savings
02:23 Bible Verse: Proverbs 22:6 – Guiding Children for the Future
02:53 Key Differences Between The Two Types Of 529 Plans
04:56 Key Investment Considerations With These Plans
05:53 Real-Life Examples of Ralph’s Clients
14:06 What Do These Real-Life Examples Tell Us?
15:10 Key Points
17:35 General Rules of Selecting 529 Plans
21:07 Action Steps You Can Take
22:01 Closing
Websites/Resources mentioned:
https://www.irs.gov/pub/irs-news/fs-09-12.pdf
https://www.savingforcollege.com/intro-to-529s/what-is-a-529-plan
https://www.savingforcollege.com/529-plan-details
Ask Ralph Insiders Community
https://mailchi.mp/askralph.com/group
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https://askralphpodcast.com/live
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