Reply to Please make me set up a 529 - I need specific guidance

Forum Index » Money and Finances

Reply to "Please make me set up a 529 - I need specific guidance"

Subject:

Emoticons





More smilies

Text Color: Font: Close Marks

[quote=Anonymous]There's not a whole lot to it. All you do is set up an online account and deposit the money--voila! 529. If you want a good website with info, this one is great: http://www.savingforcollege.com/529_plan_details/index.php?page=plan_details&plan_id=68

I linked to the SC plans for you. It looks like they're fully tax deductible, which is great. If you can accumulate significant savings each year, you could put your whole $8k into a fund now and then start contributing to the SC fund next year. Or, you could just wait to move to SC and get residency and then contribute the full $8k into their fund. For out of state residents, I think most people agree that the Utah 529 is the best. It has the lowest fees and best returns: http://www.uesp.org/  The easiest approach for the short term might be to invest in an age-based option. Personally, I invest mine in a static fund into Vanguard index funds, but totally your call.  You and your spouse can each contribute up to $14k/yr into a 529 without incurring extra taxes. [/quote]

Options

	Disable HTML in this message
	Disable BB Code in this message
	Disable smilies in this message

Review message

Search Recent Topics Hottest Topics