529 plan

[Kobbaribondam]

Hi Folks,

Can you please enlighten me about 529 plan? what are the pros, cons and benefits of the plan and where and how to enroll it.

 

Thanks

[Spartan]

•     enduk multiple threads

[Scada]

[Spartan]

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[ForEverJava]

12 minutes ago, Kobbaribondam said:

Hi Folks,

Can you please enlighten me about 529 plan? what are the pros, cons and benefits of the plan and where and how to enroll it.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Skip

 

 

 

Thanks

Look for state 529 plans ..there will be smal state tax gains..or else try outside ones like upromise..

And if u invest in 529 through a investment based company (wealth management) financial advisors they will have access to more efficient 529 plans that can grow money faster..

[Spartan]

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[BrotherBairagi]

heard somewhere that having 529 plans might be bad sometimes...as federal aid calculations include 529 plans as if belonging to the student hence why Roth IRA is another way to save.... experts can weigh in.

[ForEverJava]

That's myth ..most ppl don't know..infact when student get financial aid u can withdraw that much matching  money from 529 without penalty..