So it looks like a 529 college savings plan in the manner that it functions because of its savings. And then you're not paying the capital gains tax on the dollars invested in. But differently is that It's not for school. It's for tools, equipment licenses, certifications and new business startup costs. But this account stays open in perpetuity. It's not like it shuts down. You can continue to put money in and take money out throughout your career. (05:27–05:38)
CLAIM
Asserts that the Jumpstart Savings Program is intended for expenses related to tools, equipment, licenses, certifications, and business startup costs, not education.
This is an excerpt from a raw transcript. The assertions have not been audited or verified. Tap the video to view the source footage and understand the context.
