I was looking into opening a 529 under my own investing account in Fidelity. The idea would be to either save for a future kids education for my family, or a personal fund in case I decide to go back to school. A few questions hopefully someone can help answer.
1. Can I have a 529 account if I already have an IRA and HSA? The reason I ask is because it would be another tax advantage account.
2. If later in life I reach retirement and the funds have not been used for education, can I withdrawal the funds without tax penalty? I have read that up to $35,000 can be withdrawn tax free but not sure how true this is? If it is true, are there any catches to just opening this as an additional tax advantage account for later in life?
Thanks