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Started By
Message
re: START account
Posted on 1/31/24 at 10:44 am to Dailytiger1
Posted on 1/31/24 at 10:44 am to Dailytiger1
I opened start accounts many years ago and it performed very well.
I also had other 529 accts with brokers. They did well too.
Getting the money out of the start acct is a pain in the arse. Paperwork and it takes several days for them to send it to you. Getting it out of broker account is simple.
If I had it to do again, I’d avoid the START plan
I also had other 529 accts with brokers. They did well too.
Getting the money out of the start acct is a pain in the arse. Paperwork and it takes several days for them to send it to you. Getting it out of broker account is simple.
If I had it to do again, I’d avoid the START plan
1
Posted on 1/31/24 at 11:32 am to SlidellCajun
quote:
Getting the money out of the start acct is a pain in the arse. Paperwork and it takes several days for them to send it to you. Getting it out of broker account is simple.
I mean, it's a tax advantaged account and they do need to verify withdrawals are for education related expenses. Not sure how that can be accomplished without some form of paperwork/proof. Any tax advantaged account is gonna require some checks and balances. The small effort to justify the withdrawals is very much worth the tax benefits.
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