YFP 407: Ask YFP: Using 529s for Student Loans & Buying Bitcoin Efficiently

Your Financial Pharmacist

Tim Ulbrich and Tim Baker answer two questions from the YFP community on using 529 funds for student loans and the most cost-efficient ways to invest in digital assets like Bitcoin.

Summary

In this episode, YFP Co-Founder & CEO Tim Ulbrich, PharmD, is joined by YFP Co-Founder & COO Tim Baker, CFP®, RLP®, RICP®, to answer two insightful financial questions from the YFP community.

First, they explore whether it makes sense to use 529 plan funds to pay off student loans. Tim and Tim break down the relevant provisions of the SECURE Act, highlight key limitations and tax implications, and discuss scenarios where this strategy could be beneficial—or not.

Next, they tackle a question about buying Bitcoin efficiently. They compare the most cost-efficient ways to invest, including using various platforms, ETFs, and tax-advantaged accounts like IRAs. They also weigh the pros and cons of each approach, including fee structures, accessibility, and long-term considerations.

Whether you’re considering how to best use your 529 funds or exploring your first steps into cryptocurrency, this episode provides practical, pharmacist-specific guidance to help you make informed financial decisions.

Mentioned on the Show

• YFP 368: How Much is Enough for Kids' College?
• YFP 211: The Ins and Outs of the 529 College Savings Plan
• YFP 404: 5 Key Questions to Ask Before Hiring a Financial Planner
• YFP 386: Cryptocurrency & Digital Assets: Definitions, Origins, and Risks
• YFP 387: Cryptocurrency & Digital Assets: Investment Considerations and Tax Implications