The current school of thought is that 529 savings accounts are the best way to save for college. But if you are on an H-1B visa, and your kids are foreign-born without social security numbers yet, this might not be the best option for you.
Read the post for more savings options if you find yourself in this situation.
In this post, I discuss why a taxable brokerage account should be a part of your investment/saving strategy. By the end of the post, you’ll know the answer to questions like – what is it, what are some of the benefits of the account, things to watch out for with the account. Finally I discuss the special use case for foreign-born nationals.
College tuition is going up, Student debt continues to increase, this is not sustainable without a major policy shift. One way to combat this, is to rethink our approach and have a major mental shift in how select the colleges our students attend.
Can an H-1B Visa holder open a 529 college savings account for college?. Is it legal and are there any tax consequences to keep in mind, considering the holder’s immigration status?
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