How Unused 529 Assets Can Help With Retirement Planning

Cranbrook Wealth |

Starting in 2024, 529 account holders will be able to transfer up to a lifetime limit of $35,000 to a Roth IRA for a beneficiary. The Roth IRA rule can help Roth IRA owners avoid taxes and penalties for nonqualified withdrawals. It can also help people who want to fund a Roth in years when their income maybe too high to contribute.

Read more about this option from Fidelity here.

Understanding 529 rollovers to a Roth IRA (


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