The PrairieFire Podcast
The PrairieFire Podcast is designed to explore the financial and emotional issues of life's second half. From paying for college to dealing with aging parents, empty nesting, navigating careers, dealing with taxes, and getting ready for retirement, we share experiences, ideas, and a platform to celebrate what we believe is one of the most exciting periods of your life.
Registered Representative of Sanctuary Securities Inc. and Investment Advisor Representative of Sanctuary Advisors, LLC. Securities offered through Sanctuary Securities, Inc., Member. SIPC. Advisory services offered through Sanctuary Advisor, LLC., an SEC Registered Investment Advisor. PrairieFire Wealth Planning is a DBA of Sanctuary Securities, Inc. and Sanctuary Advisors, LLC.
The PrairieFire Podcast
#11 - 529 Leftovers – How do we keep them in OUR Fridge?
Do you want to know what to do with leftover money in your 529 plan? In this episode of the Prairie Fire podcast, we explore easy and practical ways to handle extra funds, including new rules that let you roll them into a Roth IRA. Whether your child got a scholarship, changed career plans, or took a different path, we offer helpful tips to ensure your hard-earned savings don’t go to waste. Perfect for parents and grandparents who want to feel confident about managing their 529 plan wisely.
Episode highlights:
(2:28) The Pritchard family’s scenario with three different students
(4:10) Overview of how 529 plans work and tax benefits
(6:02) Transferring 529 funds between beneficiaries—the “529 waterfall.”
(7:06) New rules for rolling over leftover 529 funds into a Roth IRA
(9:24) Long-term benefits of leftover 529 funds
(10:14) Resources for learning more and upcoming episodes
(10:52) Outro and disclaimer
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I’d love to hear from you; here are some ways to connect:
Web: https://www.prairiefirewealth.com/
Email: info@pfwplanning.com
Get a copy of my book: Empty Nest, Full Pockets: How to Emotionally and Financially Prepare for Your Family’s Future at https://amzn.to/3PovUWM
