Go to Jeff Salisbury LWGate Home Page.From: dulnev@jhu.edu (Jason Dulnev)
Subject: Re: Education IRA anyone
Date: Sun, 24 Jan 1999 05:08:17 GMT
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On Thu, 21 Jan 1999 08:29:43 -0700, you wrote: >Date: Tue, 19 Jan 1999 07:53:26 -0500 >From: Somesh Rao <somesh@syl.nj.nec.com> >Subject: Education IRA anyone ... > >Does anyone have an opinion on the Education IRA? Is it a good >idea? Do I have till April 15th to put aside money for my son? > >Thanks > >Somesh It's certainly a great idea to put money in Educational IRA. While you don't get any deductions for contributions, you also don't pay any taxes on earnings. If you're going to invest for your son's education, why not take advantage of the tax benefits? It's a pity it's only $500. My son was just born so I should be able to get enough money for less than one year tuition at a private school (considering growth of the investment). That's not much, but every bit helps. Unfortunately you missed the boat for 1998, the account had to be open before the end of year. I got lucky: I saw an article on the topic in the WSJ just five days before the end of year. Otherwise I'd miss the boat too, just like millions of other people. Jason Dulnev dulnev@jhu.edu - -
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