[Abby]

Give me some things to consider.

[Aaron]

Yes, they are. But in terms of your own financial well being and planning things like retirement id suggest being more conservative and not include.

[Josh]

I would consider it part of your net worth but not for retirement

[Colin]

Net worth sure.

The key question though is, what’s the purpose of calculating net worth?

The more important number is total savings and investments for retirement. You can’t become financially independent on the 529 money you spent on your kid’s education (or the equity in your home, or the worth of your car, or a range of assets that add to net worth but don’t necessarily make you any closer to financial independence).

[Marty]

Yes, we have several. We set them up for our grandkids. Two are in the process of using their money for school now, so be aware that your net worth will decrease as they withdraw.

Don’t miss: Now that my debt is paid off – who knows of a good 529 account for my kiddo? Or something else better?

[Grant]

Technically yes, but you don’t have to. I don’t count it since it’s earmarked for them. Any extra left over will go into a ROTH for them with the new rules that just passed.

[Scott]

I personally exclude kids savings and 529 from my net worth calc. I don’t plan to use those funds for my benefit. I would think you could throw them in the pot, but what’s the point if it won’t be spent for your benefit? That’s my opinion.

[Nicholas]

Yea especially if you list yourself as the beneficiary and can roll some of the funds to your Roth IRA to the 35k max. You can also take the ten percent penalty and cash them in by paying the taxes.

[Kevin]

Yes 529 is everyone can contribute and write off.. best thing you can do for your kids.. let says they get scholarships you can use that money however you want.. if I am wrong please correct me people.. here is learning and hope you guys don’t chew me apart.

[Kelly]

Technically, yes, but I never considered 529s or my home value as part of my net worth (from a retirement portfolio perspective).

[Author]

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