I need some advice on College Saving Plans. I understand that a 529 is a great option if all other tax advantage accounts are being fully funded. In my situation, I work for CA State and have 457b & 401k available (traditional or Roth) giving me 45k space + roth IRA 6.5k. Currently, I am maxing out my Roth IRA yearly and contributing roughly 10k yearly to the Roth 457b in addition to the state pension plan. Also married, single household income, $0 going towards spouse yearly IRA currently, so that space is available as well. Would love to fund it too, but currently don’t have the income to do so. Spouse will start working in 3-5 years and will be able to fully fund then.
In my situation, would it make sense to use a 529 towards my childs college fund or perhap use my spouse IRA space or the remaining 401k/457 space in the event that my child doesnt attend college.
Any advice would be appreciated. Thanks