Help me choose a 529 plan

[tcu2003]

DS is 18 months, and I'd like to open a 529 for him before the end of the year. We currently live in Texas (no state income tax), and will most likely be moving to Kansas (state income tax, and offers tax incentive for contributions 529 in any state's plan) in 2014. @yogii suggested the Utah plan, so I started there. It also looks like the Nevada Vanguard plan is highly rated. Any other suggestions or things I should look at?

[tcu2003]

Utah plan summary: www.savingforcollege.com/529_plan_details/index.php?page=plan_details&plan_id=52

Nevada plan summary: www.savingforcollege.com/529_plan_details/?page=plan_details&plan_id=97

[Deleted]

Utah was the go to plan for years if there was no advantages to using your own state's plan, but lately NY has been taking the top spot.  It has the lowest fees of any plan (Vanguard funds) and no annual fee.

www.nysaves.org/content/home.html

[tcu2003]

Thanks, Minnesota - that one looks like a good choice as well!

[regina24601]

My boss, who is a CPA and CFP, likes the Iowa plan, even though we don't live anywhere near Iowa.  I forget why, but I thought I'd throw it out there as another state to look at:  www.collegesavingsiowa.com/content/taxbenefits.html

[Deleted]

Dec 11, 2013 7:48:14 GMT -5 @tbird said:

Dec 10, 2013 21:19:28 GMT -5 tcu2003 said:

Utah plan summary: www.savingforcollege.com/529_plan_details/index.php?page=plan_details&plan_id=52

Nevada plan summary: www.savingforcollege.com/529_plan_details/?page=plan_details&plan_id=97

go for the utah plan while still in texas (if it is still as good as previously observed), then see if there is a comparable kansas plan when you move there to offset state income taxes.

Kansas lets you deduct contributions to any state's plan, so no reason to switch.

[Deleted]

Dec 10, 2013 22:44:38 GMT -5 regina24601 said:

My boss, who is a CPA and CFP, likes the Iowa plan, even though we don't live anywhere near Iowa.  I forget why, but I thought I'd throw it out there as another state to look at:  www.collegesavingsiowa.com/content/taxbenefits.html

Another Vanguard managed plan.  They're all very comparable.  UT, NY, NV, IA....

There are a lot of good plans out there these days. I'm in the MN one because back when I opened it 11 years ago they had a matching grant.  They took it away a couple years back and last year I was going to jump ship and go to UT since I wasn't getting the state incentive anymore.  Well, turns out after carefully comparing fees and returns that MN is a pretty decent place to be as well.  (managed by TIAA-CREF).  I couldn't see the point in going through the trouble of transferring the assets.

[happytraveler]

Private College 529 Plan: www.privatecollege529.com/OFI529/

Worked great for us and our two kids.

Good Luck!

[tcu2003]

Thanks again everyone - I just enrolled so I (barely) met my 2013 goal of getting DS set up with a 529. I decided on the NY plan.

[regina24601]

Okay, your peer pressure has worked, tcu.  This has been on my to-do list for a while, but it hasn't made it to the front burner.  I just set up DD with a 529 plan (I went with Utah).  I'm still on the fence about exactly how much I want to contribute towards her college education, but at least I have the vehicle in place now.

I didn't get it done in 2013, but maybe this will be a good precedent for me to set for good decisions in 2014!!  Thanks for the kick in the pants!

[yogiii]

I don't actually contribute my own money.  I just put any cash gifts in there, even if it's $5 in a b-day card.  Both kids are set up with a Utah account, nice choice :-)