WCI #486: What Doctors Need to Know About 529 Plans
Summary
This episode covers the basics of 529 education savings plans, including state tax breaks, tax-free growth, and strategies for overfunded accounts like changing beneficiaries or rolling over to Roth IRAs. The host answers listener questions about gifting appreciated assets to children, navigating "kiddie tax" rules, and managing 529 withdrawals during college. He also corrects a previous error regarding Texas physician loan repayment eligibility for emergency medicine doctors and promotes the White Coat Investor scholarship application deadline.
Topics discussed
Intro and SoFi student loan refinance sponsor
Summer update and community welcome
Correction: Texas physician loan repayment eligibility
529 plan basics: tax benefits and growth
How to use 529s for college expenses
Q&A: Gifting appreciated shares to avoid capital gains
Quote of the day from Peter Lynch
Q&A: 529 to Roth IRA transfer limits and rules
Scholarship application and judge recruitment
Q&A: Contributing to 529 while withdrawing funds
Final 529 advice and SoFi sponsor reminder
Scholarship deadline, reviews, and closing remarks
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