How are you all saving for your childs education? My state, Maryland, has a couple 529 Plans and a Pre-paid plan that lets you pay todays rates for tuition in the future. Any pros/cons would be appreciated.
Best advice here. Many people do not understand that you can shop among 529 plans. I live in California and opened a Nevada 529 plan through Vanguard because they had what I believed to be the best combination of investment choices along with low expenses.bigD-XCguy said:529 plans are AWESOME. I have four little trolls and I use the 529 heavily in saving for their education. Some states have really good plans, others not so much. My state (Iowa) has one of the top 5 plans as ranked by Money Magazine. The plan is managed by Vanguard and the fees are very low.
You do NOT have to live in a particular state to use their 529 plans. You can use whichever state you want and the kids can go to any college they want. That flexiblity is one of the cool things about the 529.
disagree, to each their own. school is not a "need" regardless of how you choose to view it.For the people that are of the opinion that their kids can take care of it themselves, I really think you should reconsider that position. IMHO, part of having children is being responsible for their needs
this is the number 1 best advice on this thread. thanks and good luck with your schooling!!Encourage your kids to make good grades and get scholarships
I'm not a financial planner, but everything I've heard and read points to the 529 as the best plan for most people in "normal" circumstances. The benefits of the 529 are just too numerous for most people to ignore (tax free growth, low management fees, tax deductions, flexibility, parent control, etc).knucklesandwich said:What are your thoughts on 529 plans vs. 526'ers? I've heard conflicting reports. Some say that 526'ers are better because the market for them is more mature so there's more products available, plus it's easier to get them up and running. On the other hand, I've heard 529'ers, while slower to accelerate, roll over bumps in the economy much better...