on Dec 1st, 2006529 College Savings Plan, Not Just for Teenagers
Retirement doesn’t mean having to say you’re sorry you never got a better education. With a 529 savings plan, you can change how you use those idle hours long after your job is a distant memory.
At age 64, Ray Loewe and his wife are getting ready for retirement by opening a 529 college-savings account. “We’re going to make this part of our retirement planning,” says Mr. Loewe, a college-aid financial planner in Marlton, N.J., who has a degree in electrical engineering. “I never had a chance to study music. I never had a chance to study art.”
He hopes to take a variety of courses beginning in 2007, including a trip to Costa Rica with a community-college class to study ecology. (Mr. Loewe, an ardent environmentalist, will be assisting newly hatched turtles as part of the class.) And he plans to pay that tuition with some of the $50,000 in his 529 plan.
Senior Class: 529 Plans Are Aging
By JILIAN MINCER
Wall Street Journal, November 29, 2006; Page D2