Series 7 Exam Prep 13, Education Accounts and Tax-Advantaged Savings

This podcast is made by Ran Chen, who holds an EA license, Insurance and Securities licenses (Series 6, 63, 65), and the CFP® designation. He is passionate about opening access to high-quality exam preparation resources and helping learners prepare more effectively for professional certification exams. In this episode you will learn: - The key differences between 529 plans and Coverdell ESAs regarding contribution limits and income restrictions. - Who maintains control over the assets in 529 plans versus Coverdell ESAs and custodial (UGMA/UTMA) accounts. - The definition of qualified education expenses for each type of account and how this is tested. - The tax treatment of contributions, earnings growth, and withdrawals for both qualified and non-qualified expenses. - Suitability considerations and common exam scenarios for recommending education savings vehicles to clients. For more free exam prep tools, practice questions, and AI-powered explanations, visit https://open-exam-prep.com/ or YouTube Channel: https://www.youtube.com/@Open-exam-prep