guttata LSU Fan prairieville Member since Feb 2006 20756 posts
re: For those with 529 plans...how did you pick which state to go with?Posted by guttata on 1/11/13 at 11:12 am to LSUnKaty
Got a copy of Money Magazine and they went through every state's 529 plan and based on their recommendation, I ended up going with Louisiana's. That was 12 years ago and I no longer am willing to do the necessary homework to determine if I could be saving/ making a couple bucks extra by changing now.
Janky LSU Fan Team Primo Member since Jun 2011 15033 posts Online
re: For those with 529 plans...how did you pick which state to go with?Posted by Janky on 1/11/13 at 12:31 pm to PhillyTide
LA uses vanguard and there are tax breaks as long as matching. Generally the advisor finds the state that uses the fund family they prefer and go wth that one. For example, the VA plan is American funds.
ragacamps LSU Fan Member since Jan 2011 2901 posts
re: For those with 529 plans...how did you pick which state to go with?Posted by ragacamps on 1/11/13 at 4:48 pm to Chicken
I chose the Utah plan. I was in Minnesota when my daughter was born and the Utah plan had no minimum to open plus almost non existent fees. Now that I am back in Louisiana we will be putting more money into the account and because of the matching and tax deductions aspect for Louisiana residents of the start program we will be rolling ours over. You are allowed to roll a 529 over into any states plan once a year.
re: For those with 529 plans...how did you pick which state to go with?Posted by LSUSUPERSTAR on 1/11/13 at 6:12 pm to Chicken
We live in Texas and their 529 plan had no benefit for us. I have two daughters, 14 and 2, so we went with two different states' plans. We started by looking at the highest rated ones from Kiplinger, Morningstar, and some others. Narrowed it down by looking at performance. We also got a free few days on Morningstar that helped us look at specific funds. We went with New York for the 2yr old based on low fees and great performance. We went with Ohio for the 14 yr old based on a great performing bond fund and fairly low fees. The only thing I don't like about Ohio is the way it works to do auto contribution each month. It does it based on dollars into specific funds versus percentage wise across the whole account. I'll try to take a screenshot when I get home of the data that I compiled and post it.