#244 – 529 Plans vs. Coverdell ESAs, Prepaid Tuition, Custodial, and Investment Accounts

Today we're continuing our discussion on comparing 529 college savings plans with other alternatives that parents might want to consider. In this episode, we delve into less traditional options such as Coverdell Education Savings Accounts (ESAs), prepaid tuition plans, custodial, and general investment accounts.

We'll explore the benefits and drawbacks of each, helping you make informed decisions on the best ways to save for your children's education.

Make sure to check out previous episodes (210, 211, and 241) for detailed insights on 529 plans, Roth IRAs, and real estate options. Join me in navigating the various paths to securing your child's educational future.

Remember, you are the boss of your money!

Anna's Takeaways:

• Intro (00:00)
• 529 Accounts For K-12 Education Expenses With Pros & Cons (04:02)
• Prepaid Tuition Plans & Their Benefits (08:29)
• Custodial Accounts For College Savings (15:33)
• College Savings Options (21:04)

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Money Boss Parents! Welcome to Anna's Money Boss Parent podcast, your go-to resource for mastering money management while raising a family.

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Website & Links mentioned:

Where to Open Accounts: Vanguard, Fidelity, Charles Schwab

• #210 – 529 College Savings Plan: Getting Started [Part 1
• #211 – Maximizing 529 Plans: Tax Benefits and Best Practices (Part2)
• #241 - Which is Better for College Savings? 529 Plans vs. Roth IRAs & Real Estate