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re: 529 Plans - Are they worth the investment for Children?
Posted on 10/20/20 at 1:18 pm to Jp1LSU
Posted on 10/20/20 at 1:18 pm to Jp1LSU
Looking at this for our first kid...
The earnings enhancement we would get is only 2%. Is it worth opening a Start account, or can a 529 in a brokerage be as good? Amounts to $96 a year if in LA program.
Also, we have some funding available to seed this at a higher amount than the $4800 per year that's tax deductible. I see you can carry the deduction forward, so in my head it would be better to fund early and have gains in this account that are tax free.
The earnings enhancement we would get is only 2%. Is it worth opening a Start account, or can a 529 in a brokerage be as good? Amounts to $96 a year if in LA program.
Also, we have some funding available to seed this at a higher amount than the $4800 per year that's tax deductible. I see you can carry the deduction forward, so in my head it would be better to fund early and have gains in this account that are tax free.
0
Posted on 10/21/20 at 3:10 am to YankeeDoodle
quote:What a wonderful, beautiful gift to your child! Congratulations to you and your family.
I'm about to have my first kid and have been looking into the LA Start program as well
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