5 Ways to Rescue an Overfunded 529 (Most People Get This Wrong)

Описание: Overfunded 529 Plan? Here Are 5 Ways to Fix It

Got more money in your 529 plan than you need for education expenses? That's a good problem — but the money can get stuck if you don't know your options. In this video, I break down five strategies to deal with an overfunded 529, from the new Roth IRA rollover rules to penalty-free scholarship withdrawals and more.

🔑 What we cover:
00:00 Overfunded 529 Problem
00:38 Why 529s Get Stuck
01:04 Option 1 Roth IRA Rollover
01:36 Rollover Rules And Limits
03:52 Option 2 Change Beneficiary
04:49 Option 3 Expanded Uses
05:38 Option 4 Scholarship Withdrawal
06:58 Option 5 Cash Out Anyway
08:22 Wrap Up And Share

⚠️ Key details on the 529 to Roth IRA rollover:
The 529 account must be at least 15 years old
Contributions (and their earnings) must be at least 5 years old
Limited to the annual Roth IRA contribution limit per year
$35,000 lifetime rollover cap per beneficiary
Beneficiary must have earned income
No income limits apply

💡 This video is for informational and educational purposes only and should not be considered tax, legal, or investment advice. Consult a qualified professional for guidance specific to your situation.
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