Hi I'm new. Ed. IRA
Hi all, I'm 47 and a single dad with an 11 year old son. I've got 600k in an IRA (was 700K but...you know) and 25k in cash for emergency funds. I'll also have 2 small pensions at retirement. So all in all I think I'm on the right track except for not having saved anything for my son to go to college.
I know college is years away but my son is somewhat hard headed (so was my dad....must skip a generation.) so I'm not sure what would happen to the money in an Education IRA if I could'nt make him go to college.
Would I be better off just boosting my standard IRA and pay for his college out of that instead funding an Ed. IRA?.