FinCap Friday: Don't Use It, Don't Lose It
Many families have long worried about the risk of having unused funds in a 529 plan. With extra funds or unused funds you have historically been able to choose between changing the beneficiary or withdrawing the money for non-educational use and paying income taxes (plus a 10% penalty) on your earnings. But, not anymore! A new law is making headlines because for helping families use 529 funds to get a head start on helping kids invest for retirement! Learn all about this major change in this week's episode of FinCap Friday below:
If you're short on time for this activity, try our simplified No Tech version containing embedded questions right in the slide deck!
Check out all our FinCap Friday episodes here. They're not date-dependent so many of the 175+ in our catalog dating back to August 2018 may work throughout the year!