Episode Details

This podcast is made by Ran Chen, who holds an EA license, Insurance and Securities licenses (Series 6, 63, 65), and CFP designation. He is passionate about opening up information to help everyone prepare better for financial certification exams. This episode covers content for the Series 6 Exam. In this episode you will learn: - The strict $2,000 annual contribution limit is per beneficiary, not per contributor. - How income limitations for contributors (MAGI phase-outs) can prevent contributions. - The broad range of qualified expenses, including for elementary and secondary school (K-12). - Critical differences between a Coverdell ESA and a 529 Plan, a common point of confusion. - The age restrictions for contributions (must cease at age 18) and distributions (must be used by age 30). For more resources visit https://open-exam-prep.com/ and connect on LinkedIn at https://linkedin.com/in/chenran818