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re: 529 Plans and Future Child Education
Posted on 11/13/15 at 7:59 am to Tigerstudent08
Posted on 11/13/15 at 7:59 am to Tigerstudent08
Like YF said the state matches with what they call an earnings enhancement in March of every year. Most people are going to get 4% but based on income it can go as high as 20%. You get to choose from Vanguard funds...some not all.
I have 4 kids and have an account for each of them. I put more in the older kids accounts. If you are a LA resident you can get a state deduction of up to $2400 per child per year. What is cool is you can carry over the deduction if it's not all used in a previous year.
LINK
I have 4 kids and have an account for each of them. I put more in the older kids accounts. If you are a LA resident you can get a state deduction of up to $2400 per child per year. What is cool is you can carry over the deduction if it's not all used in a previous year.
LINK
1
Posted on 11/13/15 at 9:02 am to lsufan1971
Thanks for the info. I am a LA resident. I guess I will start putting $2400 per year in there. I'm sure after 18 years that should pay for any college in the state even at current rate increases of 6% b
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