From the inbox:
Jeremy, I remember that you aren’t a big fan of 529s. But now that you can move excess 529 funds into a Roth IRA (thanks to Secure Act 2.0) … now, surely, you must LOVE them! Right?
Actually…. no.
Since having a kid of our own I have often found myself in the company of other parents. And let me tell you, there is nothing in this world parents want to talk about more than the latest exploits of Little Johnny or Young Suzie.
“Oh man, you do NOT want to know what I found in Johnny’s diaper!” (you’re right)
“Oh my gawd, Suzie said the cutest thing today! Let me tell you all about it.” (that’s, uh… really cute)
And my personal favorite:
“Yeah this kid is wicked smart… probably gets it from his old man, hehe. So anyway, I opened up a 529 plan for him last week. We even did that thing where you contribute 5 years’ worth all at once. You knew you could do that, right?”
Me: “Yeah, uh.. Jr doesn’t have a 529.. And we have no plans to start one.”
