Education IRA

From: "Harold R. Justice" <hjustice@concentric.net>
Subject: Education IRA
Date: Fri, 29 Jan 1999 07:38:03 -0600

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Some of you have been discussing education IRAs and some of its
limitations. Have you considered funding a Roth IRA for educational
purposes? The way this works is you can remove your contributions
without paying any tax or penalties since that money has already been
taxed. Suppose you and your spouse both funded a Roth each year from the
time your child is born. At age 18 your child would have $72,000 to draw
from for education. The earnings would remain in the IRA and can still
be used in your retirement, with no taxes due.

Harold R. Justice





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