Originally Posted by Peaceful_Warrior
FD - just to clarify -- is the 529 the same as IRAs in that you can pull out the contributions tax/penalty free at any time?
If so, that may encourage me to open one.
Also, can't the funds also be used for my own education should I go to get an MBA or Master's? Or is that a different kind of fund?
Yes, under CURRENT tax law, you can pull out the money federal tax-free, and also tax-free in a number of states. What Congress will do after 2011 is not clear, but there will be pressure to keep things status quo, particularly since there' s state govt. oversight on these.............
Yes, the funds can be used for you to get a grad degree, or your wife. That is a MUCH different world than custodial accounts like UTMA/UGMA.