This would be a very helpful article to those adults with children and grandchildren that they want to help finance through college. I am 83 now, and my parents helped us with our 3 children's education with something called a Clifford trust-not even sure they have those any more. We are helping our 7 grandchildren using 529 accounts that I set up for them when each was born, and that has worked out very well. In case there are any others out there who want to help their grandkids without sabotaging their own retirement.
This would be a very helpful article to those adults with children and grandchildren that they want to help finance through college. I am 83 now, and my parents helped us with our 3 children's education with something called a Clifford trust-not even sure they have those any more. We are helping our 7 grandchildren using 529 accounts that I set up for them when each was born, and that has worked out very well. In case there are any others out there who want to help their grandkids without sabotaging their own retirement.
529 accounts are definitely the safer option now. A change in the tax code in the mid-80s affected the viability of Clifford trusts.
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