Craig Lundquist and Kristin Becker photo
Ideal Wealth Advisors logo

Craig Lundquist, MBA, ChFC®, CRPC®

VP of Wealth Management

clundquist@idealcu.com

651-773-2757

 

Kristin Becker

Senior Administrative Assistant

kbecker@idealcu.com

651-773-2821

 

Ideal Wealth Advisors

Located at Ideal Credit Union

8499 Tamarack Road

Woodbury, MN 55125

 

CRPC conferred by College for Financial Planning

May/June 2026

Start Your College Grad's Financial Wellness Path

A young Asian woman with glasses, smiling while managing bills and finances using a smartphone and laptop in a well-lit, cozy living room.

You may be able to do this utilizing any unused funds in the student's 529 Plan. The IRS now allows rollovers of these funds to a Roth IRA in the child's name.


Requirements
You must have owned the 529 account for at least 15 years before rollovers are permitted. Contributions made in the five years prior to when distributions begin — including the related earnings — are not eligible for a tax-free rollover. Rollovers can't exceed the 2026 annual Roth contribution limit of $7,500 for beneficiaries under age 50 or $8,600 for those age 50 and older (which includes a $1,100 catch-up contribution).


The lifetime 529 rollover limit is $35,000, so you'd have to do a rollover annually for several years. As the owner of the Roth IRA, your graduate must have earned income at least equal to the amount of the annual rollover.


Consult your trusted advisors about your situation.

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Securities and advisory services are offered through LPL Financial (LPL), a registered investment advisor and broker-dealer (member FINRA/SIPC). Insurance products are offered through LPL or its licensed affiliates. Ideal Credit Union and Ideal Wealth Advisors are not registered as a broker/dealer or investment advisor. Registered representatives of LPL offer products and services using Ideal Wealth Advisors, and may also be employees of Ideal Credit Union. These products and services are being offered through LPL or its affiliates, which are separate entities from and not affiliates of Ideal Credit Union or Ideal Wealth Advisors. Securities and insurance offered through LPL or its affiliates are:

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