Wisdom to Wealth: Monday, July 26

Published: Jul. 26, 2021 at 5:48 PM EDT
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John Halterman: Do you have savings bonds and wondering how do I use them tax-free? Because one of the questions I get all the time is, people will tell me, hey, I’ve got these bonds and I want to roll them over into an IRA. Well, unfortunately, you cannot do that. That will not help you in saving for taxes. But, one of the things you can do is you can use them to fund college education or you can actually use them to roll over into a 529 plan. Because we’ve got a lot of grandparents who say, hey, I’ve got these old bonds. I don’t need them, but I want to use them in a productive way. Well, rolling them over into a 529 plan for your grandchildren is a fabulous way to turn those into a tax-free benefit. For more answers, call or visit my website today.

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