529 Plan and College Savings

Archive for October, 2006

Question: What are the best college 529 savings plans?

And what are the best investment options within those plans? I’m interested in learning more than which state plans are best, because I’ve seen information about plans from Kansas, Utah, Virginia, etc. being good. But when I look at each of those state plans, I immediately get confused with all of the investing options within them!

Thanks in advance for any help.

Answer: This is the nonprofit site for all info about all Sec. 529 plans. See the section on Top 10 plans.

www.savingforcollege.com

Top 10 plans:

http://www.savingforcollege.com/articles/2009-plan-performance-rankings-q2

Rankings are either by a) lowest cost or b) best investment results or c) most investment choices

If your kids are very young (grade school), use a growth fund. If they are in HS, forget the 529 Plan, it won’t have time to grow, put it in the bank. If they are in middle school, use some growth and some income. Don’t overthink this! Most plans have 2 options: age-based investments, according to your child’s age; they will automatically move from growth to income as your child approaches college; or static investing, with preplanned investment programs with varying degrees of risk (your choice).

Read a lot, and then Just Do It!

529 Kansas City 7000 SF 1st Floor…Downtown Rapid City.mp4