College savings plans have become even more valuable with recent changes. While 529 savings plans have traditionally been used to set aside money for education, they now offer even greater flexibility. Joining me is Dr. Edmund H Moore, a retired federal government worker and parent of two college-aged students. He provides his personal insights into navigating these plans for his own family. 529 plans have long been hailed as one of the best ways to save for your child’s college education. These state-sponsored investment accounts offer tax-free earnings and withdrawals that can be used for a variety of educational expenses, from tuition and books to computers. However, the landscape of 529 plans has significantly evolved, especially with the recent 2024 policy change allowing funds to be rolled over into Roth IRA accounts without tax penalties.

Dr. Edmund H. Moore is the author of the book “Financial Freedom: Doing Nothing Is an Option,” which challenges the traditional narrative around building wealth and achieving financial independence. The book offers readers a refreshing perspective on how to achieve financial freedom without sacrificing one’s quality of life.