Reply to Suburban MD Prestige Rankings

Forum Index » Real Estate

Reply to "Suburban MD Prestige Rankings"

Subject:

Emoticons





More smilies

Text Color: Font: Close Marks

[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]NoNone in Chevy Chase village is even aware of Mds college situation.  [/quote]
I’m in Rockville and my 529s are fully funded for private colleges. I don’t care about the UMD situation: that is a middle class concern[/quote]

But you live in Rockville and are a saver, a saver via a government program no less.  Can you say you are totally middle class without saying you are middle class?  [/quote]

Not PP, but there's nothing more upper class than exploiting every tax law to minimize your tax liability. [/quote]

The Maryland 529 only allows you to deduct $2500 per year from state tax. Thats nothing. The attractive part about 529s is tax free growth. You dump $50k when the child is born, set it to the equivalent SP500 fund, and don’t look at it for 18 years. Generally for upper class families, that’s a gift from the grandparents upon birth. God I have to explain everything to you people[/quote]

Truly wealthy people are not mucking about in 529s. They either have the funds needed in trust or pay from current earnings. Why would you lock your money into a purpose-built and limited application fund if you don't need to?[/quote]
I’m the PP and while I’m well off, I’m not “truly wealthy” like Musk or whatever. But I can assure you UHNW people do use 529s. It’s a no brainer to harness the power of compounding[/quote]

Maybe your friends in Arlington are diligently squirreling their money away in 529s, but I assure that ultra high net worth individuals are not using 529s, and there are plenty of ways to "harness the power of compounding" without putting your money into a 529. Lol[/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