Hello everyone, welcome to Ask the CFP®. Today, we’re discussing a unique opportunity: converting a 529 plan to a Roth IRA. Thanks to the SECURE Act 2.0, you can now roll over unused 529 assets into a Roth IRA, provided the 529 plan has been open for at least 15 years and recent contributions are excluded. This allows your money to grow tax-free and offers tax-free withdrawals in retirement. However, be mindful of the eligibility criteria and contribution limits. Please read the accompanying article for more details.
If you have any questions, feel free to reach out to us at jbotello@monetagroup.com. We’re here to help!
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