I want to set aside money for my child for post-secondary education expenses, but my husband and I didn't want to assume he'll go to college.
I'm Canadian, so there could be a chance my son will go to college there, meaning the 529 plan wouldn't get the tax advantages that make it so appealing.
For many parents, a 529 plan seems like a logical way to go when saving for their child's education.
Instead of opting for a 529 plan, we're doing a combination of a high-interest savings account and a Roth IRA (in my name, not his).
But if you and your family decide that a 529 plan makes sense, do your research and good luck!
Persons:
wouldn't, Roth, —, doesn't, I'm, That's, what's, — we've, we're
Organizations:
Service, YOLO, he's, IRA, Roth IRA
Locations:
China, Canada