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Finance

2-Minute Tax Tip: What's an Educational IRA?

Mark J. Kohler breaks down five benefits of the flexible Educational IRA.
- VIP Contributor
Author, Attorney and CPA
1 min read
Opinions expressed by Entrepreneur contributors are their own.

Paying for your children's education is more expensive than ever, so it's important to start planning well ahead of time -- and to plan creatively. Many people have seen advertisements for a 529 plan (a state- or educational institution-operated savings plan that helps families save for future college costs), but the Educational IRA is a great tool that allows you to save up to $2,000 per year, per child . . . and it's something that you definitely shouldn't overlook when it comes to college planning. 

Watch more videos from Mark J. Kohler on his YouTube channel.

Related: How to Buy Your First Rental Property in an IRA

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