Wednesday, February 18, 2009

529 college saving accounts

I have been meaning to research and open a 529 college saving account for the last 3 years. I'm finally going to get serious. I suppose I "lucked out" because I bypassed the big stock drop last year.

My plan is invest as much as possible as early as possible. The tax benefit of Ruth IRA and 529 account is exactly the same. I'm going to redirect my Ruth IRA contribution to the 529 account. Then switch back once I have a decent 529 balance.

Now the only question is which fund family / state plan do I want to invest. If you have a 529 account, would you share with me what you like about your particular plan?

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