ethelmay: (Default)
ethelmay ([personal profile] ethelmay) wrote in [community profile] agonyaunt 2023-08-09 08:58 am (UTC)

There are more restrictions on retirement accounts than on college savings accounts. Essentially a college savings account can be a better deal for rich people, because it's an easier way to get money accumulating tax-free for a child with no income, and you can make much bigger deposits. (Why, yes, 529 plans can be kind of a scam under some circumstances.)

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