Education Savings Accounts

This is an outdated video but does a great job of explaining how an education IRA works.  While the limits have gone higher, everything else discussed in this video is accurate.  The current limit for the ESA account is $2,000 per year.  The speaker discusses that after tax dollars are used to fu

An education savings account (ESA) is designed to help families save for their child's educational expenses, whether it be for grade school, private school, or college.  An education savings account is a tax advantaged investment account allowing families to make and grow investments at a tax-free rate.  When the funds are withdrawn to cover the educational related expen