Also by Dale Maley:
- Financial Planning for Medical Doctors
- How Do You Know When We Are In A Financial Bubble?
- Who Are The Bogleheads And Should You Become One?
- Can Hoover Dam’s Design Principles Help Us Solve the Retirement Income Problem?
- My Journey of Digitizing 50 Year Old Family Slides
- What Is The Optimum Method to Convert a Retirement Portfolio Into Income?
- How Can I Retire If I Am 62 and Broke?
- Fire Your Over-Priced Financial Advisor and Retire Sooner
- Be Very Wary of Equity Indexed Annuities
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Are 529 Plans Really the Best Way to Save for College?
Rating: Not yet rated.
Published: April 15, 2011
Words: 8,383 (approximate)
Language: English
ISBN: 9781458066664
Short description
Before the advent of 529 plans, UGMA accounts were the principal method of saving for college. When state administered 529 plans were created by Congress in 1996, conventional wisdom said they were the new preferred method for college savings. Now many states are perilously close to bankruptcy and have closed their 529 plans. It is time to revisit the college savings method decision.Extended description
Before the advent of 529 plans, UGMA accounts were the principal method of saving for college. When state administered 529 plans were created by Congress in 1996, conventional wisdom said they were the new preferred method for college savings. Now many states are perilously close to bankruptcy and are charging high fees for 529 plans. Nine states have closed the pre-paid tuition plans. It is time to revisit the question of 529 plans versus UGMA accounts. This short story explores the issue of whether 529 plans or UGMA accounts are the best method of saving for college. After reading this short story, you will be able to make your own well-informed decision on the best method of saving for college.Tags
college, tuition, 529 plan, ugma, college savingsAvailable ebook reading formats
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