Which company offers the best 529 for college saving? Hello my child is not born yet, but in the next month my husband and I would like to start a 529 for our child. Who offers the best one? submitted by /u/FastNefariousness600

529 – Front-load Contributions? I have the opportunity to contribute what I believe is the amount needed to fully fund my child’s public 4 year education in 15 years. Much like a coast FIRE situation. Has anyone done this? Is it better to get this taken care of right away or continue to contribute monthly to the 529 for the next 15 years? submitted by /u/Cactus1986

Delaware vs Utah 529 Hi all! We’re starting late with our 11.5 year old, but better late than never! Most websites claim that Utah has the best 529 plan. We’re in Delaware which has up to 2k tax deductions for their 529 plan. Is the 2k tax deduction in the Delaware 529 plan worth it or would I end up saving more in the Utah plan even though I won’t get any tax break…

529 Vs Custodial IRA My wife and I are having our first child in NC and I’ve been trying to decide the best way to invest for education costs in the future. NC has no state tax benefits for 529 plans. I was considering opening a custodial IRA and gifting a certain % of shares of my small business to our daughter so she has earned income. Would that work to allow me …

Ohio 529 Savings Plan? Current Ohio resident but looking to move out of state within 5 years for work, just had first child. Looking for a 529 that makes sense. Wondering if I’m reading this right – Ohio is listed as a state that offer tax parity, which means they will allow for deducting contributions from state income tax if we contribute to any state’s 529 plan. Ad…

Piggy bank vs 529 for kids My FIL gives my kids (9 and 4) $5-$10 every time he sees them which is a couple times a month. I always took the money and made a deposit to their 529’s. When I told my MIL that I did this, she said “other grandson puts his in his piggy bank! We’ll get your son a piggy bank too!” I got the feeling that they didnt like that the money wasn’t sitt…

Opening 529 account for 13 yr old Setting up a 529 account for my 13 year old daughter on Fidelity. It’s asking if I want to go with mutual funds, index funds, or blended funds. I don’t know much about the differences between the 3. The goal is, of course, to grow the funds as much as possible over the next 5 years. Any advice on what the best approach would be? For reference: m…

Maxing Out 529 in Virginia? I am 21 weeks pregnant with our first and only child. We live in Virginia and I was looking into a 529 plan. Virginia’s plan allows for a max tax deductible contribution of $4,000 per year. My questions are: If I can swing it in 2023, should I open the 529 now with the max contribution? If we can swing it, would it make sense to do the max co…

Should I invest in 529 if unsure about kids? Title pretty much says it all: have some money in taxable right now, thinking how to maximize tax advantages accounts after maxing out 401k, IRA, etc. I’m 28 and my partner is 30. We both took transitions and are in early stage of our new careers, so we are really not sure when we will have kids, or even whether we will. Does 529 only make sens…

529 vs Roth IRA contributions? I basically can save 3k a year in my kids’ 529 or max out my Roth with my extra $ currently. I know a 529 gives some tax benefits (on 3k its nothing crazy, few hundred $ a year I think)…but starting to think I might be better off just going the Roth IRA route and can use my Contributions (before 60) tax free for college funds. This lets me kin…

LPT – Owing taxes on a 529 college fund + back taxes So in 2021 i recieved around ~ $18000 from a college fund set up by my grandmother. I was told that if I use the funds to pay for schooling I would not have to pay any sort of taxes on it, but being stupid(I did not use it for schooling) , I used it to fund other things. At the time I was living with my girlfriend and we were going through some …

Why would anyone open a 529 from a state without tax incentives? I live in TX and am considering 529s with NY, NV, or UT because I already use Vanguard. But even if I didn’t, why would anyone use a TX 529 to begin with anyways? Since there are no tax incentives. submitted by /u/eddddddddddddddddd

Should a child have multiple 529 accounts? If a relative opens a 529 account for a daughter of another couple, should the couple still create a 529 account for their daughter or should they solely invest in the one already opened? submitted by /u/Whole-Blackberry-659

Can I open a 529 at 25y/o to repay my student loasn Is this a common thing to do? I don’t know why I didn’t think of this but why am I paying my loans from my after tax salary? Can I just open a 529, deposit money, and use it to feed my student loan auto payments? I know there is a $10,000 limit per beneficiary but are there really no restrictions on withdrawal timing and stuff? submitted by …

Made aware of 529 account…after college. What now? Hi everyone, Please excuse my illiteracy on the subject, but hey that’s why I’m here for advice. I recently became aware that a family member I had lost contact with set up a 529 account for me when I was a baby. I’ve recently reconnected with the family member, and they told me about the account. Per the family member, “The funds are meant to b…

Remaining funds in 529 account for IRA? I received a funded position to finish up my grad school and have a ~2k balance on a 529. Would it be possible to roll onto my traditional IRA? I see a Roth is acceptable to roll a 529, but I don’t see any literature about trad. Is there any other ways to use the balance? submitted by /u/Immediate_Strength70

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529, no income, best financial move hi all- briefly, i am a college student, senior, no income, get withdrawals every so often to pay for education related expenses, rent, food, etc. i do not have income, if i do, it is irregular, i expect a job for the summer that will pay between 30-50/hr. expected salary upon graduation is 100k +/- 20k my checking account has anywhere from 100-…

529 superfund before child is born and gift tax question My wife is 3 months pregnant and being the planner I am, I created a 529 plan already. I put the beneficiary in my name, and will change the benficiary to our child once they are born and have their social. My question is regarding the concept of “superfunding” and the gift tax rule. I have about 75k in cash that I’d like to put straight into th…

What to do with checks made out to 529 college savings plan beneficiaries? My 3 kids’ aunt had a 529 account for each of them, and now that the kids are paying for college, she closed the accounts out, and we received a check made out to each child. I realize the amounts may be taxable for my kids (not huge amounts, ~2K each), but I want to make sure I handle this correctly. Can they just deposit the checks in their ba…