New option available for excess 529-plan funds

By Mike Switzer

Published December 12, 2023 at 6:30 AM EST

Laird Green, a certified financial planner with Abacus Planning Group

Imagine that you have saved diligently over the years to fund your child’s 529 education savings plan, but instead of the expensive private college originally planned for, your daughter chose to enroll at a public university. So now that you have money left over in that 529 plan, what can be done with it? Our next guest says that the good news is that a new option is available now that could help build a retirement fund for your daughter. Mike Switzer interviews Laird Green, a certified financial planner with Abacus Planning Group in Greenville, SC.

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Mike Switzer

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.

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