Ask Ryan and Hannah: What to Do with a 529 Plan If College Isn’t the Plan (DF#189)

Join us as we dive into the topic of managing funds in a 529 plan. We address a question from a parent who is uncertain about how to handle the money in their child's savings plan if college is not pursued. What You’ll Learn: - Exploring the tax advantages and qualified expenses associated with 529 plans - Discussing options such as changing beneficiaries, rolling over funds to a Roth IRA, or using the funds for education paths like trade schools or apprenticeships - Highlighting the implications of withdrawing funds from a 529 plan, including tax penalties and advice from financial professionals Join us as we navigate the complexities of managing a 529 plan and provide valuable insights on making informed decisions regarding education savings. Whether you're a parent planning for your child's future or seeking education paths, this episode offers practical advice and considerations to help you navigate the financial landscape. Ready to set your teen on the path to success after high school? Apply for our Degree Free Launch Program and let's build them a personalized career roadmap: https://degreefree.com/launch/ To keep up with everything Degree Free check out our website: https://degreefree.com/ Your questions, answered on air! Head over to https://ask.degreefree.com/ and Ryan and Hannah will answer your question on the podcast! Want to help your 16-20 year old build the life they want without wasting 5 and half years and going into crippling student debt? Get your copy of "The Degree Free Way" workbook! Guide your 16-20 year old to jobs that help them reach their goals. All while saving time and money. Discover personalized career options and clear direction with this comprehensive workbook set. Get "The Degree Free Way" Workbook here → http://degreefree.com/book