Love the podcast. Still waiting for Mat to wear his cowboy hat. Maybe he gets a big belt buckle this year?
Please comment on converting ESA (assets self directed/not Wall Street) to 529. Does this mean we can have self directed (what we know best) in our 529 or do you have to convert Mark’s cows to cash then convert to 529?
Regarding excess funds (assume no debt and do not want to transfer to relatives) why not just max out withdrawl (for many years until child has income) in child’s (or relatives) name (could be many) and stay under standard deduction so you just have a 10% penalty. This appears to be another way to build wealth with minimal tax. (assuming no or smart debt and ira’s, 401, etc maxed out)
Or, let it ride and compound.
Thank you again Mat and Mark for your help and positivity during these uncertain times.
Eric