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Five ways to spend unused 529 Plan funds

The main vehicle parents use these days to save money for their children’s education is the 529 plan. But what happens to the money in that plan if your child decides not to go to college? Or maybe they go to a less expensive college than you had anticipated and some money is left over in the plan? Mike Switzer interviews Laird Green, a certified financial planner with Abacus Planning Group in Greenville, SC.

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After almost 20 years, Mike Switzer retired from Wells Fargo Securities in 2001 as Senior Vice President/Investment Officer and Certified Portfolio Manager. In 1999, he and his wife, Maggie, purchased and operated for eight years the Baskin Robbins ice cream store on Forest Drive in Columbia. They grew the store from a bottom-tier operation in the Baskin Robbins franchise system to one in the top 5% nationwide within three years, tripling sales along the way. While operating the ice cream store, Mike and Maggie received patents for a portable ice cream sink and fold-down sneezeguard they invented and in 2002 started Magnolia Carts, an ice cream cart manufacturing company, which they sold in 2013.