Using a Roth IRA to Fund a Child's College Education

Can I use a Roth IRA for College Savings? Here’s How It Works! 🎓💼 | Ashley Gilbert Are you wondering if a Roth IRA can be used to pay for college expenses? The answer is YES! In this 15-minute presentation, I’ll show you exactly how a Roth IRA can be a flexible and tax-advantaged tool for funding education, as well as provide the key rules and considerations to keep in mind. Whether you’re planning for your child's education or your own, this video will guide you through the process of using a Roth IRA for college savings. 📖 Here’s what we cover: What is a Roth IRA? – A quick overview of how Roth IRAs work and why they’re a powerful savings tool. How Roth IRAs Can Be Used for College Savings – How you can withdraw contributions tax-free and, after five years, even withdraw earnings for qualified education expenses. The Five-Year Rule Explained – Learn the importance of starting early to meet the requirements for tax-free earnings withdrawals. Contribution Limits & Opportunities – How you and your children can maximize contributions and take advantage of financial literacy opportunities. Pros and Cons of Using a Roth IRA for College – We'll weigh the advantages and drawbacks from tax benefits to potential financial aid impacts. Additional Considerations: Planning for education, a first-time home purchase, retirement, and maintaining a flexible investment strategy. 📊 Key Considerations: 1. Tax-free withdrawals of contributions. 2. Use Roth IRA earnings for qualified education expenses after 5 years. 3. Impact on financial aid eligibility (FAFSA) and the downside of not replenishing funds. 4. Contribution limits and how your child can open their own Roth IRA. 🔔 Subscribe for more personal finance and college savings tips: 🔗 Helpful Links: Website: https://financialcoachinginstitute.com/ YouTube Channel:    / @ashleygilbert-fci   Rewire for a Wealthy Brain Digital Course: https://courses.financialcoachinginst...