Hey dad, I don't want to go to college anymore. Okay, great. You're not mad that you contributed all that money to the 529 college savings plan and now I don't want to use it for college? No, I'll just roll that money over into your Roth IRA. I don't think you can do that without being penalized 10%. Oh yes you can, starting in 2024. What's the catch? The rollover's capped at $35,000, annual contribution limits still apply, and the account has to have been open for 15 years. I just learned something new. It's almost like we don't even need to spend a quarter of a million dollars to send you to college anymore.

Discover the new option to rollover your college savings into a Roth IRA without penalties. Learn about the new rules for 2024 and how it can benefit your financial future.