So I overheard someone talking today about their brand new pool that they paid for in CASH by withdrawing from their children's REGISTERED EDUCATIONAL SAVINGS PROGRAM....
Speechless.
How is that stealing exactly?
Not to detract the dissing and all, but isn't the
contribution from the parent allowed to be returned to the contributor tax free?
I see it as a clever way to contribute to your child's education. Contribute to the plan, get the government match, withdraw your contribution after vesting period, child can use the government match for school expenses....
Many are quick to judge in my opinion...
I do agree that using the proceeds to buy a pool is probably not the best use for the cash though.