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    use it for education purposes.

    By the end of 17 years, your Education IRA will have acc

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    Let’s assume that you would like to begin saving for your children’s education fund. At the end of each year, for the next 8 years, you will contribute $2,000 into a Coverdell Education Savings Account (Education IRA), using your after-tax dollars. The money grows tax-free, and neither the contribution nor the interest is taxed when you make a withdrawal, as long as you use it for education purposes.

    By the end of 17 years, your Education IRA will have accu

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    end of each year, for the next 8 years, you will contribute $2,000 into a Coverdell Education Savings Account (Education IRA), using your after-tax dollars. The money grows tax-free, and neither the contribution nor the interest is taxed when you make a withdrawal, as long as you use it for education purposes.

    By the end of 17 years, your Education IRA will have acc

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    Savings Account (Education IRA), using your after-tax dollars. The money grows tax-free, and neither the contribution nor the interest is taxed when you make a withdrawal, as long as you use it for education purposes.

    By the end of 17 years, your Education IRA will have acc

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    neither the contribution nor the interest is taxed when you make a withdrawal, as long as you use it for education purposes.

    By the end of 17 years, your Education IRA will have acc

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    use it for education purposes.

    By the end of 17 years, your Education IRA will have accumulated to just over $86,000. Contrast this with your fully taxable non-IRA account which would have grown to only $50,000. That is a $36,000 difference!

    Today, the average 4-year cost of education at a public college in the country is around $38,000. In 18 years it is projected to be close to $86,000. Costs for private education are even higher.

    This example

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