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Should I Use A 529 Plan For Primary School Tuition?

The Tax Cuts and Jobs Act of 2017 made some changes to the types of qualified expenses that you can deploy 529 funds against: they now allow you to use $10,000 per year for primary or secondary school tuition. The average annual cost of private primary education is estimated to be $9,631, so it’s logical to be curious about whether you can use 529 funds for private K-12 or elementary, middle, or high schools. But is it wise to do that?

Education Planning Financial Planning Tax Planning
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When Is It OK To Withdraw Money Early from Your 401K?

In general, it is not advisable to withdraw money early from your 401K. Some of our clients ask us if they should take an early distribution from their 401K when they move back to their home countries. The answer is still usually no because there are penalties and tax consequences of doing so. You can leave your 401K right where it is and benefit from it in retirement, wherever you are living in the world. However, in some cases, especially financial hardship or early retirement, an early withdrawal (or distribution) from your 401K may serve as a viable strategy.

Financial Planning Tax Planning Retirement Planning H1-B