LSUSUPERSTAR LSU Fan Arlington, TX Member since Jan 2005 8753 posts
re: I'm opening a 529 for both of my daughters today (Posted on 1/3/13 at 11:27 am to jmtigers)
We chose 529 over Roth due to tax savings on gains made which go toward qualified education costs. Plus family members can contribute to them much easier. My in-laws are going to do an auto contribute.
quote: I guess one is better for short term since his oldest daughter will be in college in 4 years.
Exactly. We researched using Morningstar (and other sources)and decided on NY and OH.
quote: Just compared NY to LA and really dont see any advantage that I can make out there.
Since we live in TX, there are no tax benefits by choosing the TX or LA ones.
For the 2 yr old, NY made sense due to performance (which I know can't predict the future) and low fees. For the 14 yr old, OH made sense due to a high performing Bond fund (again that doesn't mean it will do great in the future). For both, we chose the static options which are akin to how a 401k works.