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  2. Can a Roth IRA be used for college?

    www.aol.com/finance/roth-ira-used-college...

    Key takeaways. Both a Roth IRA and a 529 Plan are valid ways to save for a college education. Each has unique benefits and limitations. Starting in 2024, unused funds in a 529 account may be ...

  3. 529 plan vs. Roth IRA: Here’s how families can use both to ...

    www.aol.com/finance/529-plan-vs-roth-ira...

    Here are the pros and cons of using a 529 or a Roth IRA to pay for college. ... to a Roth IRA can be withdrawn tax-free and penalty-free if used for higher education expenses, assuming the account ...

  4. My wife and I saved up $73,000 in 529 college savings plans ...

    www.aol.com/finance/wife-saved-73-000-529...

    To qualify, the account must be at least 15 years old and contributions made in the previous five years aren’t eligible. Keep in mind, the Roth IRA annual contribution limit for 2025 is $7,000 ...

  5. Roth IRA - Wikipedia

    en.wikipedia.org/wiki/Roth_IRA

    A Roth IRA is an individual retirement account (IRA) under United States law that is generally not taxed upon distribution, provided certain conditions are met. The principal difference between Roth IRAs and most other tax-advantaged retirement plans is that rather than granting an income tax reduction for contributions to the retirement plan, qualified withdrawals from the Roth IRA plan are ...

  6. 529 plan contribution limits for 2025: What college savers ...

    www.aol.com/finance/529-plan-contribution-limits...

    Finally, starting in 2024, families can roll unused 529 plan funds to a Roth IRA in the beneficiary’s name without triggering income taxes or penalties.This new rule, signed into law as part of ...

  7. The Pros and Cons of Saving for College With a Roth IRA

    www.aol.com/finance/pros-cons-saving-college...

    There are some situations where it might make more sense to use a Roth IRA for your child’s college fund. Both Roth IRAs and 529 plans are funded with after-tax dollars — you pay tax on your ...

  8. Ask the experts: My kids will begin college in 10 years. What ...

    www.aol.com/finance/ask-experts-kids-begin...

    While this is primarily a retirement account, Roth IRAs allow penalty-free and tax-free withdrawals of contributions (but not earnings), so your child could take contributions out tax-free for ...

  9. Are 529 College Savings Plans Tax Deductible?

    www.aol.com/529-college-savings-plans-tax...

    Converting a 529 to a Roth IRA allows the money to continue growing tax-free. While Roth IRA owners typically have to be age 59.5 before they can begin making penalty-free withdrawals, the IRS ...