🎓 Think MOST Is Just for College? Think Again.

If you’ve ever wanted to save for a child’s future education but worried about what happens if plans change, a 529 plan may be worth a closer look.

A 529 plan is a tax-advantaged savings account designed to help families save for future education expenses. Contributions are invested and have the potential to grow over time, and qualified withdrawals can be used tax-free for eligible education expenses.

Missouri’s 529 plan, known as MOST (Missouri’s 529 Education Plan), offers a flexible way to save for future educational opportunities while maintaining control of the account.

And despite the common misconception, a 529 plan isn’t just for a traditional four-year college degree.

💡 It’s Not Just for Traditional College

MOST 529 funds can be used for a variety of qualified education expenses, including:

✔ Colleges and universities

✔ Technical and trade schools

✔ Career and vocational training

✔ Apprenticeship programs

✔ Certain K-12 education expenses

✔ Student loan repayment (subject to federal limits)

Education looks different for every student, and MOST offers flexibility to support many different paths.

🤔 What If My Child Doesn’t Go to College?

This is one of the most common reasons families hesitate to open a 529 account.

The good news? You have options.

Option 1: Change the Beneficiary

If the original beneficiary decides not to pursue additional education, you may be able to change the beneficiary to another eligible family member.

This could include:

• A sibling
• Child
• Grandchild
• Spouse
• Cousin
• Other qualifying relatives

That means the funds can continue supporting educational goals within your family.

Option 2: Leave the Account Open

There is no requirement that the funds be used immediately after high school graduation.

If the beneficiary chooses to attend school later, the account can remain invested and available for future qualified education expenses.

Option 3: Help Start Retirement Savings

One of the most exciting recent changes to 529 plans came through the SECURE 2.0 Act.

Under certain conditions, unused 529 funds may be eligible to be rolled into a Roth IRA for the beneficiary, helping them start building retirement savings earlier in life.

While eligibility requirements and lifetime limits apply, this change provides families with additional flexibility and helps address concerns about over-funding a 529 account.

Imagine helping your child or grandchild not only prepare for education expenses but also giving them a head start on retirement savings.

🌟 Why Consider a MOST Account?

A MOST account offers:

• Tax-advantaged growth potential
• Tax-free withdrawals for qualified education expenses
• Flexible use across many educational paths
• Ability to change beneficiaries if plans change
• Potential Roth IRA rollover opportunities for eligible unused funds
• Account owner control of the assets

The Bottom Line

Many families hesitate to save because they worry:

“What if my child doesn’t go to college?”

Fortunately, today’s 529 plans offer more flexibility than ever before.

Whether your child attends a university, enrolls in a trade school, completes an apprenticeship, pursues specialized training, or ultimately benefits from a Roth IRA rollover opportunity, a MOST account can adapt as goals and circumstances change.

You don’t have to know exactly what the future holds to start preparing for it.

Sometimes the greatest gift you can give is the flexibility to choose from a variety of opportunities when the time comes.

For more information about Missouri’s MOST 529 Plan, visit the MOST website or consult with a financial professional to determine whether a 529 plan aligns with your family’s savings goals.