3039: Savings Tax Breaks for Middle America 529 Plans by Harry Stout of Financial Verse

Discover all of the podcasts in our network, search for specific episodes, get the Optimal Living Daily workbook, and learn more at: OLDPodcast.com. Episode 3039: Harry N. Stout explains the two types of 529 Plans, college savings plans and prepaid tuition plans, along with their benefits, potential drawbacks, and flexibility in case of changing circumstances. Understanding these plans can help families make informed financial decisions while balancing college savings with long-term financial security. Read along with the original article(s) here: https://www.financialverse.com/post/savings-tax-breaks-for-middle-america-529-plans Quotes to ponder: "Funds in a 529 Plan grow federal tax-free and will not be taxed when the money is withdrawn for qualified education expenses." "There are a myriad of situations that can arise in the future such as the death of a child, the receipt of full academic or athletic scholarships, or the receipt of employer educational assistance." "Your child can take out a loan for school, you however cannot take out a loan for your retirement." Episode references: Saving for College: https://www.savingforcollege.com Learn more about your ad choices. Visit megaphone.fm/adchoices

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Optimal Finance Daily, hosted by Diania Merriam, the innovative mind behind the personal finance conference EconoMe, takes you on an enlightening journey through the world of personal finance. Each episode brings to life the most compelling and practical advice from leading financial bloggers and experts. Diania’s engaging narration and insightful commentary transform complex financial concepts into relatable, actionable insights. Whether it’s budgeting, investing, debt management, or money mindfulness, she covers it all, making financial wisdom accessible to everyone. Gain not just knowledge, but also the motivation to apply it in your daily life. It's not just a source of personal finance tips; it’s a daily companion that guides you towards financial independence and savvy money management, all delivered with Diania's trademark enthusiasm and expertise. By focusing on early retirement, financial independence, and saving money, each episode provides you with the tools needed to achieve your financial goals. This podcast is designed for those passionate about personal finance, early retirement, financial independence, and saving money. It’s your go-to source for practical advice on managing your finances, saving money, and working towards early retirement. Each episode offers actionable steps to foster financial independence and secure your financial future. Listen now, and become an OLD friend--your optimal life awaits...