Talk of The Villages Florida - View Single Post - Lifelong Learning 529 plan
Thread: Lifelong Learning 529 plan
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Old 06-26-2013, 11:06 AM
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Quote:
Originally Posted by graciegirl View Post
What is a 529 plan?

Their courses are mostly fun and rather frivolous in nature, self help, crafty, arty etc and they are quite reasonable.. I pay $81 dollars for a six week course two hours plus each session for art courses. Excellent teachers...(except for one)
Gracie, if you have not read the other post defining the 529 plan, a 529 is typically a higher education tax free savings plan similar to an IRA or 401k except you NEVER, EVER pay taxes on it, but it has to be used for education. So my thinking is that since I plan to use the LLC in the Villages, (frivolous or not) why not save some money now and get it tax free and possibly lower my tax bracket in the process? That way any classes I decide to take in the future are already paid for.
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