COLLEGE SAVINGS PLANS
Mutual fund vs. 529e vs. Custodial account? Hmm…
I’m a bit torn. I like the tax advantage of a 529e; however, don’t like the idea that the money can only be used for one purpose (education). What if the college-bound student doesn’t need the money due to scholarships or attends a school with lesser tuition? I just like being in control of my own money and not having rules placed on it. With an income above the average American, I am in need of tax advantages, so I suppose I could learn to deal with the loss of control.