This week, I’m talking about some of the best and most unique financial planning opportunities available during this coronavirus crisis. There are several tried-and-true opportunities that present themselves in nearly every crisis and market downturn, but there are also several that are unique to this current crisis.

Today I’m talking about one of those unique opportunities that has presented itself during this current crisis. If you have kids in college, who have received tuition refunds because they’re not in school right now, you can actually re-invest those refunds back into a 529 plan. If you receive a refund for funds paid from a 529 plan, you have 60 days to roll those funds back into a 529 plan. 

The advantage of doing this is that you could reinvest those funds at lower values because the stock market has dropped or if you’re going to take the funds back out within a few months, even just putting the money into short-term bonds to earn some interest while you wait and see when they’ll be able to return to school is a good plan, because any earnings and growth will be tax free. 

That’s it for today. Thanks for listening. My name is Ashley Micciche and this is the One Minute Retirement Tip. 

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