The Grandchildrens' "529" Page -- July 16, 2024

 

Personal investment links here:

• personal investing by the grandparents.
• the "529" page.

Philosophy:

• most important, Sophia, right now, because she is already ten years old
• next: Judah and Lev, four years old
• then: Arianna, for post-graduate education
• finally: Olivia, just in case

Note: 

• "529's" are incredibly flexible
• owner and beneficiary can be changed at any time with a simple signature by the owner
• after a "529" has been in existence for 15 years, up to $35,000 can be converted into an Roth IRA but requires active income on the part of the beneficiary, and annual contributions within IRS rules
• if folks understand the concept of the fungibility of cash it's hard to think of a better passive investment for many grandparents wishing to provide support for grandchildren
  

Grandparents' "529" proportion for the grandchildren:

• Sophia: 40%
• Judah: 20%
• Levi: 20%
• Arianna: 20%
• Sophia: 0%

As of July 16, 2024:

• Judah: 
• parents have "529" established for Judah. Grandparents send contributions to the parents for his "529."
• Levi: 
• parents have "529" established for Judah. Grandparents send contributions to the parents for his "529."
• Sophia: 
•  "529" established by grandparents; contributions began in CY2024
• Arianna: 
• no "529" established by grandparents yet. Would like to have that done by end of CY2024.
• Olivia: 
• no "529" established by grandparents yet. Using funds that would go to her "529" for living expenses at Stanford, but would like to start a "529" if for no other reason than the Roth-conversion benefit.