Cheryl Winokur-Munk

speaker
1,406 appearances 26 recordings 2 series first heard Apr 2019 last heard Jun 2025

Cheryl Winokur-Munk’s voice in public audio — every appearance, attributed to the second.

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Appearances

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WSJ Your Money Briefing · How to Open a '529' Account to Save for College · 14 Jun 2021 podcast
And that person has to have a social security number or a federal tax ID number. voice-verified
That's what makes these plans so flexible is it's not use it or lose it. voice-verified
While some people are worried that the money will be lost, it's really not going to be lost. voice-verified
The account owner is going to maintain control of the assets regardless of how old the beneficiary is. voice-verified
And if that beneficiary doesn't go to college, you can change that beneficiary at any time or if there's leftover money. voice-verified
So if the beneficiary doesn't go to college or there's leftover money for whatever reason, the beneficiary can be changed to another family member, such as a sibling, a stepchild, legally adopted child. voice-verified
You can even use it for yourself if you're the account owner. voice-verified
So there's less concern about money not being portable. voice-verified
In that respect, you can also opt to withdraw some of the money voice-verified
for something other than what's considered a qualified education expense, but you may pay a penalty for that in terms of taxes. voice-verified
Thanks for having me. voice-verified
I really appreciate it. voice-verified
WSJ Your Money Briefing · Paying for College: Where to Look Beyond Federal Loans · 7 May 2021 podcast
One of the issues that people have is they don't know that they should be looking or they don't know where to look. voice-verified
And that means a lot of money is potentially left on the table. voice-verified
It's really not a surprise that people have a hard time paying for college these days because college costs really continue to skyrocket. voice-verified
In 2019 and 2020, for example, families spent an average of $30,017 on college. voice-verified
And that's according to Sallie Mae. voice-verified
And the comparison is in 2018, 2019, voice-verified
they spent $26,266. voice-verified
So you can see there's a jump just there. voice-verified
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