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In state vs out of state 529 for college
Posted on 3/25/19 at 1:20 pm
Posted on 3/25/19 at 1:20 pm
My wife and i are only able to contribute a small amount, say $50 a month toward our child’s 529 plan for college. It’s possible we could do more in the future, but this is where we are. It’s not much, but at least it will be something. Is it more important to select an in-state one based on reducing taxable income by that small amount or selecting one with perhaps slightly lower fees and maybe better performance(some out of state 529’s seem to do a bit better), but not getting the tax deduction?
Posted on 3/25/19 at 2:40 pm to NDonahue
The LA START program is a really good 529 program. It's about as low of fees as you can get as it uses primarily passive Vanguard funds. I would suggest using that if you are going to do it yourself, particularly because of some of the other incentives.
The only other 529 plan that might merit consideration would be Virginia's plan that uses American Funds, which are relatively low cost actively managed funds. Historically, they have slightly outperformed Vanguard net of fees, but both Vanguard and American Funds are a few hundred basis points above the rest of the pack.
The only other 529 plan that might merit consideration would be Virginia's plan that uses American Funds, which are relatively low cost actively managed funds. Historically, they have slightly outperformed Vanguard net of fees, but both Vanguard and American Funds are a few hundred basis points above the rest of the pack.
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