I have about 30k in a 529 plan and am wondering how far to go with it, because I really don't know whether my young child will go to college. I've read that an alternative approach is to dedicate a Roth to educational expenses, because funds can be withdrawn from a Roth without penalty to pay for higher education. Contributions (just not earnings) can also be taken out without penalty. So that way, anything my kid doesn't need for college just becomes part of my retirement. In California, contributions to a 529 are not tax deductible, so I think the only advantage to the 529 is that there are fewer limits on contributions. I would like to have sufficient funds to pay $35-40k per year for four years in current dollars.


@CheetahDad, thank you for reaching out. This is an excellent question and I will be forwarding this for a subject matter expert to review. They will contact you as soon as possible. Thank you. ~ Robyn.