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As of 2024, you may be allowed to roll over up to $35,000 in unused funds from your 529 plan into a Roth IRA account for the beneficiary — the idea being that these unused funds can help ...
Aggregate limits: Every state sets a limit on the total amount you can contribute to 529 plans over a lifetime. The limit applies to each beneficiary and ranges from around $235,000 to $590,000.
It's important to know exactly how 529 plans work.
There are three major restrictions on 529 plans outlined in Prudential’s Winning the College Savings Race:. You can only change plan investments twice per year. Although you can transfer between ...
529 plans can be used for many college-associated expenses other than tuition.
In the meantime, you can leave the money in the 529 plan. And if you want to help the beneficiary prepare for retirement, you can always make direct contributions to an IRA in that individual's name.
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