The reasons why you should use a 529 plan are many, but there is always a downside. In my previous video we talked about all the benefits to investing in these taxadvantaged accounts. Now, let me share some the disadvantages of a 529 plan to help you reach a final decision!

0:00 Introduction
1:17 Counts Against You When Doing FAFSA Application
1:45 10% Penalty and Income Tax on that 529 Plan
2:38 Not All 529 Plans are Good
3:09 Not All States Offer Tax Deductibility
3:36 Investment Options

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DISCLAIMER: THIS VIDEO IS FOR INFORMATIONAL PURPOSES ONLY AND SHOULD NOT BE CONSTRUED AS TAX, FINANCIAL, OR LEGAL ADVICE. EVERY PERSON’S SITUATION IS DIFFERENT AND YOU SHOULD CONSULT WITH YOUR OWN FINANCIAL AND TAX ADVISOR FOR ADVICE SPECIFIC TO YOUR SITUATION. COMMENTS ARE NOT REVIEWED