You are a first-time homebuyer. You are disabled. You are a beneficiary of the deceased owner. The Education IRA is a great way for parents, grandparents, or others to start saving money for a child's education. Money can be withdrawn without penalty as long as it is used for qualified higher-education expenses.
Qualified withdrawals are tax-free.
The money must be withdrawn by the time the child reaches age 30. If not withdrawn, you may be able to transfer the money to another child under the age of 18. Please check with your tax advisor. Money Market Account Earn high yields without losing access to those funds. You can receive the highest rates possible without being hit with early withdrawal penalties.