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Merrill Edge Savings Account
NextGen Direct 529 Plans allow for saving money for a child’s higher education while creating an opportunity for ongoing contributions to grow tax-free. Funds have to be used for college related expenses, including tuition, books, uniforms, etc.
Custodial Accounts (UGMA/UTMA) allow funds to be saved in the name of a child beneficiary and withdrawals can be used for any purpose, including educational expenses.
Merrill Lynch Savings Account Conclusion
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