529 plans are tax-advantaged for certain expenses.
It would be nice if there were an option to - model them as existing accounts, and - pay education-related expenses from existing 529s
Would also be nice to have the option to mark 529 as “taxable” as USA citizens living in other countries often do have to pay taxes on 529s…
I suggest adding a toggle for: include in net worth
I could see value in having 529 as an option in the account drawdown order, but I’d also like to have 529 accounts completely excluded from the drawdown order.
This is because some parents will use 529 accounts to pay for private K-12 schooling, college, etc. But in my case, when I put money into the 529 accounts, it’s gone from my budget. When the associated kid turns 18, they get that money and will assume control of the account.
As far as I’m concerned, as soon as I put my monthly contribution in, it is no longer my money, so I wouldn’t want ProjectionLab including it in my NW or drawdown.
My state also has an annual withdrawal limit for 529s, so it’d be nice to include that stipulation in the drawdown for educational expenses (first x dollars taken from 529, then rest from savings, etc.)