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529

Discussion in 'BBS Hangout' started by asianballa23, Sep 11, 2015.

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  1. asianballa23

    asianballa23 Member

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    anyone got one for their kid(s)? Which state you use and how is it performing so far?
     
  2. juicystream

    juicystream Contributing Member

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    Yes, with GA (we can deduct up to $2K per child per year on our state returns for the contributions, which is automatically a 6% return).

    My kids have done very well over the years.
     
  3. asianballa23

    asianballa23 Member

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    nice.. some some top 5, top 10 rankings of 529 by states, dont recall seeing GA...

    guess you're the only parent here that invest in 529 for kid's college uh.
     
  4. DCkid

    DCkid Contributing Member

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    I user the Virginia 529 plan due to the state income tax deduction for residents. I would think most people who live in states that have income tax deductions would just go with their own state's plans. The money you save on the deductions is probably going to make up for any small deviations based on investment performance.

    But yeah, not sure what advantage Texas residence have with a Texas 529 plan.

    Since starting in 2013 my performance is between 7-8%, which isn't really saying much since the stock market is probably a bubble at this point.
     
    #4 DCkid, Sep 14, 2015
    Last edited: Sep 14, 2015
  5. Dream Sequence

    Dream Sequence Contributing Member

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    We went with Utah since the Texas one at the time didn't really offer any advantages and had higher expenses. Haven't looked recently to compare investment offerings/costs.
     
  6. Beck

    Beck Contributing Member

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    I have 529 accounts for both of my kids. Returns around 8% and I get a state income tax benefit (Pennsylvania).
     
  7. dragician

    dragician Member

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    the problem with 529 is if your fund makes more than the promised profit is you don't get any of it.
     
  8. DFWRocket

    DFWRocket Member

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    I use the T Rowe Price Alaskan plan - Its been ranked as one of the top plans by forbes for a few years now

    http://www.forbes.com/sites/johnwasik/2014/11/05/the-five-best-college-savings-plans/

    Good luck & glad you're looking at ways to help your kids with college.



    For those still undecided on rather to start a 529:

    Did you know that if you smoke a pack of cigarettes a day...quit while pregnant and put JUST the cigarette money in a decent 529 plan every month until that kid graduates high school - you could potentially have $70,000 for college.
     
  9. Haymitch

    Haymitch Custom Title
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    I actually didn't know you could open it up in a different state. I was planning on starting one early 2016. Good thread, OP.
     
  10. No Worries

    No Worries Contributing Member

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    I have one for my son. Utah 529, with Vanguard funds.

    IIRC West Virginia 529 has access to Dimensional Funds, which usually requires a DF approved adviser for access.
     

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