| Posted by | Message |
ragacamps 
LSU Fan
Member since Jan 2011
1843 posts
| 529 College Savings Plans....Few Questions (Posted on 11/20/12 at 4:49 pm)
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 on  |
RetiredG8tr 
Florida Fan
Pensacola Fl 32503
Member since Nov 2012
44 posts
| re: 529 College Savings Plans....Few Questions (Posted on 11/20/12 at 10:09 pm to ragacamps)
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 | |
Breadcrumbs
LSU Fan
Baton Rouge
Member since May 2005
2792 posts
| re: 529 College Savings Plans....Few Questions (Posted on 11/21/12 at 9:57 am to ragacamps)
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 | |
poule deau
Member since Jan 2009
811 posts
| re: 529 College Savings Plans....Few Questions (Posted on 11/21/12 at 12:15 pm to ragacamps)
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
4289 posts
| re: 529 College Savings Plans....Few Questions (Posted on 11/21/12 at 2:17 pm to poule deau)
quote:
If you are a La resident, START is your best choice, imo.
+1
|
| Back to top | |
ragacamps
LSU Fan
Member since Jan 2011
1843 posts
| re: 529 College Savings Plans....Few Questions (Posted on 11/21/12 at 3:34 pm to fatboydave)
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
1375 posts
 Online
| re: 529 College Savings Plans....Few Questions (Posted on 11/23/12 at 7:44 am to ragacamps)
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 | |
rmc
LSU Fan
Zachary, LA
Member since Sep 2004
21142 posts
| re: 529 College Savings Plans....Few Questions (Posted on 11/23/12 at 7:56 am to ragacamps)
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 | |
ragacamps
LSU Fan
Member since Jan 2011
1843 posts
| re: 529 College Savings Plans....Few Questions (Posted on 11/23/12 at 3:26 pm to ragacamps)
You can roll any states plan over into another states plan once per year without penalty
|
| Back to top | |
ragacamps
LSU Fan
Member since Jan 2011
1843 posts
| re: 529 College Savings Plans....Few Questions (Posted on 11/23/12 at 3:26 pm to ragacamps)
You can roll any states plan over into another states plan once per year without penalty
|
| Back to top | |
ragacamps
LSU Fan
Member since Jan 2011
1843 posts
| re: 529 College Savings Plans....Few Questions (Posted on 11/23/12 at 3:27 pm to ragacamps)
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
1382 posts
Online
| re: 529 College Savings Plans....Few Questions (Posted on 11/23/12 at 9:58 pm to ragacamps)
The triple post, wow.
|
| Back to top | |
shutterspeed 
Southern Miss Fan
So. Miss. by way of Baton Rouge
Member since May 2007
26501 posts
| re: 529 College Savings Plans....Few Questions (Posted on 11/24/12 at 2:35 am to ragacamps)
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
21142 posts
| re: 529 College Savings Plans....Few Questions (Posted on 11/24/12 at 8:13 am to shutterspeed)
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
Paige is Pretty
Member since May 2006
51802 posts
| re: 529 College Savings Plans....Few Questions (Posted on 11/24/12 at 8:26 am to rmc)
Are you also locked into a certain college with that option?
|
| Back to top | |
ragacamps
LSU Fan
Member since Jan 2011
1843 posts
| re: 529 College Savings Plans....Few Questions (Posted on 11/24/12 at 11:46 am to Tigerholic)
quote:
The triple post, wow.
Not sure what happen there
|
| Back to top | |
Htown Tiger
LSU Fan
Houston
Member since Sep 2005
1682 posts
| re: 529 College Savings Plans....Few Questions (Posted on 1/3/13 at 8:55 am to ragacamps)
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 
USA Fan
Member since Jul 2007
2381 posts
| re: 529 College Savings Plans....Few Questions (Posted on 1/3/13 at 10:18 am to Htown Tiger)
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 | |
