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Reply to "Which 529 plan do you have your kids in? How much do you contribute per year?"
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[quote=Anonymous][quote=Anonymous]You can contibute more than 4k/year but you only get a tax deduction for 4k/yr. Contributions over 4k have an unlimited carryforward until all contributions have been deducted. The College America plan can only be set-up through a financial advisor so you need to take into account additional fees that the advisor will charge on top of the standard 529 plan fees. You cannot set-up this type of plan on your own. The VEST or Prepaid plans you ca set-up on your own without advisors. [/quote] Is it beneficial to have a financial advisor set these up for us? Are the returns much better? We were looking into signing up with an advisor a few months ago but he started getting aggressive and it turned me off. I vaguely remember our life insurance rep telling us to sign up directly and skip the advisor for the 529. I'm assuming he meant the VEST plan and the financial advisor was trying to set us up with College America.[/quote]
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