Does it matter what bank I open 529 at?
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Anonymous
| And could you share what institution you opened a 529 at and why? |
Anonymous
| In Maryland, we opened it through T. Rowe Price. |
Anonymous
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We went with the Maryland College Investment Plan, which is run by T. Rowe Price.
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Anonymous
| Same here - went to the MD college investment plan. Very easy. Staff were helpful. |
Anonymous
| Anyone from Virginia? |
Anonymous
| We did online virginia and just in one quarter our returns are amazing. We did a mix of high and low risk but really the returns are incredible |
Anonymous
| I should add, we've had it for about 2 years. I. Don't look at it much just make sure it's making money, but the returns are always very good overall. Really glad we did it with virginia |
Anonymous
| Did you compare state to state and what fees there all? Also, is there a state income tax deduction? |
Anonymous
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Everyones returns the last 2 years have been amazing - it has nothing to do with which program.
FYI - returns in 2008 sucked. AND - I have rebalanced b/c I believe the marked is due for a correction. I am not trying to "time the market" but I have too much at risk to get a correction like the one that occured in 2008. |
Anonymous
| OP here, for the ones who did it in Virginia, What instution did you go with? A poster said online, but when I go to Virginia 529, it says you have to go through a company, which ones did you guys go with? |
Anonymous
You seem like you don't know much about investing. |
Anonymous
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Wow I tried to help op and got a couple not so nice replies. Sorry laying here sick in bed on an iphone. I do actually know quite a bit. Thanks...
Why don't you help op then? I actually work in finance for a fortune 50 and dh and I have done quite well investing. |
OTAlexFA
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In Virginia, BB&T and United Bank are the only 2 banks to offer a bank-sold program (CollegeWealth). You can also go through American Funds directly for the inVEST program. You can use a financial advisory firm for CollegeAmerica.
Each platform has different features so familiarize yourself or meet with someone to begin your program. http://www.virginia529.com/features-and-benefits/index.php |
Anonymous
| I thought you had to to the official virginia 529 to deduct it from taxes |
OTAlexFA
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You have to be in one of those VA 529 plans (not directly-sold) to get the state tax deduction. It can be any of the ones listed. |