Staying home is for losers!!! Spend the money and make those memories!!! I am trying to make the weekend run to Colorado with my buddies egging me on. Those flights are too pricey right now.
Investopedia, the Onion of finance...
An Iowa 529 accountAs much as your strategy sounds good, it doesn't work. First off, it requires an average annual return of 12.44%. Second off, there's a five year holding period for a Roth to be tax free. Third off, you have to be 59.5 to make a qualified withdrawal from a Roth or you pay a 10% penalty. Lastly, you can only do $7,500 per year, and that's if you're over 50, and there's an income phaseout that prevents you from making the contribution, which me and the Mrs. are above.
Iowa allows for $3,785 tax deduction per parent per beneficiary, but you can always contribute more. The contribution limits are based on the gift tax exclusion, so you could contribute up to $170,000 in one year, if you're married, $85,000, if single. You'd then be restricted from making any further contributions for five years or risk having to pay a gift tax.An Iowa 529 account
- $3000 / year / parent
- 8 years
- Plus interest
- $48K+ saved
versus
- $5K to $10K to $20K ++ / year
- 8 years
- $40K - $80K - $160K spent
- $xx Scholarship gained MAYBE!! (if you’re a pitcher)
As much as your strategy sounds good, it doesn't work. First off, it requires an average annual return of 12.44%. Second off, there's a five year holding period for a Roth to be tax free. Third off, you have to be 59.5 to make a qualified withdrawal from a Roth or you pay a 10% penalty. Lastly, you can only do $7,500 per year, and that's if you're over 50, and there's an income phaseout that prevents you from making the contribution, which me and the Mrs. are above.
In all reality, the big money is spent the last 4 years of TB for the majority. 10U-14U not much cross country travel at these age divisions.An Iowa 529 account
- $3000 / year / parent
- 8 years
- Plus interest
- $48K+ saved
versus
- $5K to $10K to $20K ++ / year
- 8 years
- $40K - $80K - $160K spent
- $xx Scholarship gained MAYBE!! (if you’re a pitcher)
Series 7, 63, 65, and the CFP designation.Do you hold a Securities license?
Did I try to solicit securities business? Did I give any specific recommendations? Did I advertise for my business?Does your Compliance dept (assuming you have a BD and your licenses are active ) approve all of your finance related posts and Outside Business Activities? If so, I would imagine they also require a full disclosure statement.
Look, I find many Securities Industry rules and requirements to be complete overkill but this is a softball forum.