DD is in 9th grade, is it too late to start DC 529 plan?
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Anonymous
| Just now have a bit of breathing room to save a little bit of money for college. Yes, I know is is really really almost too late, but hoping for scholarships, I have some GI Bill money I can transfer and I guess the rest will be loans. Should I even bother with 529? |
Anonymous
| If you can get some tax savings for the contributions (which requires using your states plan) then it is probably worthwhile. At this point you want your investment to be pretty safe (e.g., the Fund for College in the MD plan) since college is only four years away so you probably won't get huge gains so there isn't a big advantage to tax protecting the gains. On the other hand it's easy to set up and easy to get the money out so no real reason not to do it. |
Anonymous
| Yes, it's never too late to start saving, and as PP said, there are tax advantages. |
Anonymous
| With the GI Bill and saving alot going forward, I think you will be fine. |