Attention financial enthusiasts: The Secure 2.0 Act is a GAME CHANGER for family wealth development.
The SECURE 2.0 Act was passed into law in 2022, but takes effect as of 2024. This act allows funds from a 529 account to be transferred TAX-FREE to a Roth IRA for the beneficiary of the 529 account. This essentially allows you to kickstart a beneficiary’s Roth IRA savings in addition to the educational spending benefits that you get from a 529 plan.
Important to know for those who aren't familiar with 529 plans is that the money contributed is post-tax, so for many of us this will...
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Source: Student Doctor Network - Category: Universities & Medical Training Authors: Dr. Anonymouss Tags: Anesthesiology Source Type: forums