529 College Savings Plans....Few Questions | TigerDroppings.com

Posted byMessage
ragacamps
LSU Fan
Member since Jan 2011
2226 posts

529 College Savings Plans....Few Questions



I have been researching 529 plans and wonder if anyone has recently opened one or can shed any light on the subject. Reviewing morning star's 2012 ratings and information on different state's plans has led be to believe that Louisiana is one of the poorest performing choices. I'm leaning toward the Utah 529 plan because of the low fees and my reluctance to go with the Start program at home. I'm currently living in Minnesota but will be moving back next summer. The Minnesota plan seems God awful and nails you with fees.

Any suggestions??







Back to top
Share:
RetiredG8tr
Florida Fan
Pensacola Fl 32503
Member since Nov 2012
44 posts

re: 529 College Savings Plans....Few Questions


You can buy plans in other states. Most states allow plan transfers...go figure. My suggestion is, buy the plan, the whole plan. Buy the plan outright. You can't beat their projected return, then again, they might do a GM on you... your money is my unions money now.....money. Think some Pink Floyd, 94 concert.





Back to top
  Replies (0)
Breadcrumbs
LSU Fan
Baton Rouge
Member since May 2005
2875 posts
 Online 

re: 529 College Savings Plans....Few Questions


LA Start is one of the best if not the best in the nation. You get a state tax deduction and a match. Vanguard funds. Search for past threads about it. It's superior and if you or your kids are residents, then you should choose LA Starts.

College Choice direct would be my distant second choice for 529.






Back to top
  Replies (0)
poule deau
Member since Jan 2009
1030 posts

re: 529 College Savings Plans....Few Questions


quote:

that Louisiana is one of the poorest performing choices


Not really...

LINK


Ten-year performance ranking
Rank State Plan Percentile
1 Alaska T. Rowe Price College Savings Plan 17.66
2 Alaska University of Alaska College Savings Plan 25.43
3 Maryland College Savings Plans of Maryland -- College Investment Plan 32.56
4 Louisiana START Saving Program 35.04
5 Virginia Virginia Education Savings Trust (VEST) 39.87
6 Iowa College Savings Iowa 43.63
7 South Carolina Future Scholar 529 College Savings Plan (Direct-sold) 55.83
8 Rhode Island CollegeBoundfund (Direct-sold, Alternative RI) 58.52
9 Delaware Delaware College Investment Plan 71.47
10 New Hampshire UNIQUE College Investing Plan 73.28


If you are a La resident, START is your best choice, imo.






Back to top
fatboydave
LSU Fan
Fat boy land
Member since Aug 2004
6860 posts

re: 529 College Savings Plans....Few Questions


quote:

If you are a La resident, START is your best choice, imo.


+1






Back to top
ragacamps
LSU Fan
Member since Jan 2011
2226 posts

re: 529 College Savings Plans....Few Questions


I should have been more specific. I'm not a Louisiana resident but will be within a year. I'm going with the Utah plan for now but may roll over into the Louisiana 529 in the future.





Back to top
TigerRob20
LSU Fan
Baton Rouge
Member since Nov 2008
1791 posts

re: 529 College Savings Plans....Few Questions


I have a 529 plan I opened with fidelity about a year ago. Can I move that to an LA Start plan?





Back to top
  Replies (0)
rmc
LSU Fan
Zachary, LA
Member since Sep 2004
22603 posts

re: 529 College Savings Plans....Few Questions


I am not familiar with the roll over issue. But to the OP - Louisiana is great for Louisiana citizens. They match a % according to income. You get state income tax deduction. And, over time, the ability to chose different investment vehicles has evolved. It use to be very limited. It's still limited, but there are more options now than 5 years ago when I started my sons.





Back to top
  Replies (0)
ragacamps
LSU Fan
Member since Jan 2011
2226 posts

re: 529 College Savings Plans....Few Questions


You can roll any states plan over into another states plan once per year without penalty





Back to top
  Replies (0)
ragacamps
LSU Fan
Member since Jan 2011
2226 posts

re: 529 College Savings Plans....Few Questions


You can roll any states plan over into another states plan once per year without penalty





Back to top
  Replies (0)
ragacamps
LSU Fan
Member since Jan 2011
2226 posts

re: 529 College Savings Plans....Few Questions


You can roll any states plan over into another states plan once per year without penalty





Back to top
Tigerholic
LSU Fan
Member since Sep 2006
1469 posts

re: 529 College Savings Plans....Few Questions


The triple post, wow.





Back to top
shutterspeed
LSU Fan
My new Texas adventure
Member since May 2007
35142 posts

re: 529 College Savings Plans....Few Questions


I opened a Mississippi 529 plan. We had the option of a traditional 529 or a guaranteed option. We went with the guaranteed option because it locked in tuition rates at today's prices (and with the way tuition is increasingly yearly, that seemed like the best investment).

Whatever plan you go with, I would make sure it's guaranteed by the state. Funny enough, MS has temporarily suspended its program to conduct an actuary audit.






Back to top
rmc
LSU Fan
Zachary, LA
Member since Sep 2004
22603 posts

re: 529 College Savings Plans....Few Questions


quote:

We went with the guaranteed option because it locked in tuition rates at today's prices (and with the way tuition is increasingly yearly, that seemed like the best investment).


Damn, I wish Louisiana had something like that.






Back to top
yellowfin
Illinois Fan
Coastal Bar
Member since May 2006
72277 posts
 Online 

re: 529 College Savings Plans....Few Questions


Are you also locked into a certain college with that option?





Back to top
  Replies (0)
ragacamps
LSU Fan
Member since Jan 2011
2226 posts

re: 529 College Savings Plans....Few Questions


quote:

The triple post, wow.



Not sure what happen there






Back to top
Htown Tiger
LSU Fan
Houston
Member since Sep 2005
1873 posts

re: 529 College Savings Plans....Few Questions


I'm currently not a Louisiana resident but do plan to send my children to LSU. My parents, however, are residents. Does anyone know if I can just have them set up a 529 plan for my child and just contribute that way?

(Most likely I'll have them contribute directly and I just reimburse them. Not sure if that is legal either...)






Back to top
trident
Tennessee Fan
Member since Jul 2007
3387 posts

re: 529 College Savings Plans....Few Questions


How much should 1 contribute to pay for tuition in 18 yrs? The calculator says $~500. I think that is a bit too much.





Back to top
  Replies (0)


Back to top