What is a Coverdell Education Savings Account (ESA)?

Formerly called an “Education IRA,” a Coverdell Education Savings Account allows families to save money on a tax-deferred basis for primary and secondary education expenses for children under the age of 18. However, the maximum annual contribution per child to an ESA is $2,000. 


See Also:

Ask An Advisor: Is it Too Late to Start Saving?

Save Your Refund Thanks to Form 8888 

Save for Our Future–or the Kids? 

More About IRA 

How to Save $1 Million Dollars 

Your DIY Financial Planning Guide

What’s the best way to save for college? 

The 529 Plan = Smart College Savings 

Saving for Higher(-cost) Education 

Why Kids Should Chip in for College


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