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re: Is 529 best option for building college savings??
Posted on 8/6/13 at 10:41 am to ragacamps
Posted on 8/6/13 at 10:41 am to ragacamps
Thanks for all of the responses.....
Looks like we might open a Custodial Mutual Fund, only issue is that we can only start with 26K, and we aren't sure about the tax implications. Looks like as long as it doesn't earn more than $1900 a year, she won't have to pay taxes, and if it does we can claim it on ours.
I can get a fund through work where I don't have to pay any fees, and will earn around 6%.
Looks like we might open a Custodial Mutual Fund, only issue is that we can only start with 26K, and we aren't sure about the tax implications. Looks like as long as it doesn't earn more than $1900 a year, she won't have to pay taxes, and if it does we can claim it on ours.
I can get a fund through work where I don't have to pay any fees, and will earn around 6%.
1
Posted on 8/7/13 at 10:46 am to Kingwood Tiger
quote:
Looks like we might open a Custodial Mutual Fund, only issue is that we can only start with 26K
DO WHAT? Custodial accounts don't have maximums.
quote:
I can get a fund through work where I don't have to pay any fees, and will earn around 6%.
Why not open a custodial account and buy whatever you want (with some fees) and possibly earn 10%+?
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