PARENTS ARE EMBRACING BITCOIN AS SAVINGS TECHNOLOGY 👇🔥
Discussion
The biggest issue is the taxes. A 529 is tax free gains. Bitcoin is not.
Not yet!
True, but how liquid is the 529 if plans change and kid doesn’t attend college, or if an emergency arises and the funds are needed elsewhere? I’m not familiar with 529s but usually if the government is involved in the money, the less freedom. Also, I’d like to think that the bitcoin would yield more value, even with long term capital gains tax.
It is perfectly liquid. Not sure what you mean?
Much like a 401k or it's, you are free to withdraw any time you want. There will be tax consequences and penalties however. You can also change the beneficiary to someone else like a grandchild if you wish.
You could be very right on Bitcoin outperforming, even with cap against.
I mean... "parents" can be just 2 of them. :)
Bloomburg didn't talk to my family, so there is 4.
I can’t tell if this is a pro-Bitcoin take or an anti-fiat education take.
Nonetheless, YES. 🌸
This is the way
3 girls ages 4 and under...I'm lucky to have a financial advisor who is orange pilled, didn't bat an eye when I stopped the 529 payment after realizing it was a way to incentivise me to use the funds on fiat education. Now I'm stuck with funds that can't be used and won't keep up with the debasement rate because homeschooling curriculum isn't eligible in my state.
529 plans are tax vehicles for the grandparents to use to fuck the gov out of tax revenue. Otherwise, they're garbage for parents. The timeframe given is not adequate for meaningful investing at the price of tuition unless the parents throw in serious coin. Bitcoin is the superior asset over this timeframe and no spending restrictions or red tape to deal with.
I don't stack Bitcoin for my kids education fund. I stack Bitcoin for all future generations of my family line. Self-sovereign. To spend as we see fit.
I take custody of my kids education to ensure he doesn't need an education fund and won't find value in their indoctrination.