Rules, Benefits and Downfalls For Using a Roth for Educational Funding

[Guest CS Everett]

Someone interested in using a Roth to start retirement and education funding for 2 children. Both have income. College financial aid not very helpful as far as rules and how it would effect child's income. Any help would be appreciated! Thanks!

[John G]

You need to be more specific. Ages of children, approx family income, do you expect private or public college (a proxy for college cost). Do you mean both children or both parents have income? If children, approximate annual income and if it is "earned" or other sources. What state of residence? And please clarify what you mean in the "college financial aid" sentence.

I will try to help... I have one in college now and one going next year.