Which, by the way, is achievable with a 529 account, which has been around for a long time. Any funds not used for education can be rolled into an IRA in adulthood.
Thats incorrect.
First, rolling unused 529 funds into an IRA was only achievable with the passage of the SAVE act in 2024 (just 2 years ago) this function hasn’t been around for a long time. Second, the lifetime maximum dollars you can roll in is capped at $35k. I don’t think many would consider that enough for retirement. source
He does nothing for altruistic reasons.
I completely agree with this statement.
if it appears to benefit others, it is either a side effect, or a useful illusion.
Side effect in this case. He gets to put his stupid vanity name on something, and his buddies in the investment industry get a new channel for investment funds.
Thats incorrect.
First, rolling unused 529 funds into an IRA was only achievable with the passage of the SAVE act in 2024 (just 2 years ago) this function hasn’t been around for a long time. Second, the lifetime maximum dollars you can roll in is capped at $35k. I don’t think many would consider that enough for retirement. source
I completely agree with this statement.
Side effect in this case. He gets to put his stupid vanity name on something, and his buddies in the investment industry get a new channel for investment funds.