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Radical Personal Finance

978 EpisodesProduced by Joshua SheatsWebsite

Joshua J Sheats, MSFS, CFP, CLU, ChFC, CASL, CAP, RHU, REBC is a financial planner who teaches people how to live a rich life now while building a plan for financial freedom in 10 years or less. He mixes creative approaches to lifestyle design, deep-dive financial planning techniques, and hard-core … read more

2:31:09

A Comprehensive Guide to the Ultimate Education Account a.k.a the Coverdell Educational Savings Account RPF0106

Today, we take a look at one of the most misunderstood and underutilized accounts in your tax-planning aresenal.

The Coverdell Education Savings Account can be incredibly useful as a tool for you to pay for:

  • elementary school expenses
  • secondary school expenses
  • homeschool expenses (in some states)
  • college expenses
  • vocational school expenses
  • and more!

Perhaps more importantly, there are very few things you can't use as an investment in the account. You can choose to invest in:

  • real estate
  • notes
  • tax liens
  • companies 
  • precious metals
  • etc.

But what about the income limitations? Meaningless. You can circumvent them so easily they're utterly meaningless.

This account is constantly criticized as being useless. Check out my discussion of the details and see if it deserves the criticism.

Enjoy!

Joshua

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