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“529 Plans Pros and Cons”

941 Search Results

941 Search Results

Types of Retirement Plans and Which to Consider

Types of Retirement Plans and Which to Consider

https://www.sofi.com/learn/content/different-retirement-plan-types/

…income) reaches $138,000 in 2023 and $146,000 in 2024. As a joint filer, your ability to contribute to a Roth IRA phases out at $218,000 in 2023 and at $230,000…


Benefits of Using a 529 College Savings Plan

Benefits of Using a 529 College Savings Plan

https://www.sofi.com/learn/content/benefits-of-529-college-savings-plan/

…annually per beneficiary. Another difference is income limits: You can only use an ESA if your modified adjusted gross income is less than $110,000 (singles) or $220,000 (married couples filing…


401(a) vs 401(k): What's the Difference?

401(a) vs 401(k) Compared

https://www.sofi.com/learn/content/401a-vs-401k/

…Roth IRA contribution limit for 2024 is $7,000 ($8,000 if you’re 50 or older) and for 2023 is $6,500 ($7,500 if you’re 50 or older). Traditional IRAs A traditional IRA…


Tips for Avoiding the 529 Withdrawal Penalty

Tips for Avoiding the 529 Withdrawal Penalty

https://www.sofi.com/learn/content/529-withdrawal-penalty/

There are typically no withdrawal penalties associated with leaving leftover funds in a 529 plan after college. In fact, 529 plans allow you to withdraw up to $10,000 per year,…


Good Paying Jobs Without a College Degree

Good Paying Jobs Without a College Degree

https://www.sofi.com/learn/content/good-jobs-without-a-college-degree/

…career goals. Here are some of the main pros and cons to weigh when deciding whether to pursue a good paying job and forgo college. Pros Cons Avoid the potentially…


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