College Davings plan

[Bear Down]

Looking to open one up for my two kids

One will tap into it in about 2 years and the other will tap into it in about 10

Will deposit about $8k into each account to start

Which is the best one to look at

I’m a so cal resident

 

[CLdrinker]

with only 2yrs to go.

Look at the stock market.

 

[BabyRay]

Look at New York’s 529 plan and see if it works for you. It has good historical returns, which is why I chose it for my grandson.

 

[rivergames]

I opened a 529 account for each of my kids. Also put $ into a CD as well as stock for them

 

[bowtiejunkie]

Depends on what tax savings you are after. 529 plan likely is best route for tax savings. You can start one fund for the first kids college then change the name to second kid and fund the second kid's college. Any left over, there's a few options.

You could use a Roth IRA for tuition (this would be too soon to use for 1st kid, unless you had a current Roth IRA.

Invest via an Indivdual brokerage account. You pay the taxes.

Lots of options, depending on goals, risk, and tax advantages being sought. I chose the Roth and Individual approach.

 

[ArcadiaBrad]

Iowa and Nevada are both Vanguard managed and have lower expenses than most.

 

[Go-Fly]

Send it to me, I'll hold on to it.

 

[Joe mama]

I wish I would have put away more. Out of state tuition is a joke.

 

[HBCraig]

I have two 529 accounts. One with Fidelity and one with Scholarshare. Manage both easily and they've had decent growth

 

[Bear Down]

Depends on what tax savings you are after. 529 plan likely is best route for tax savings. You can start one fund for the first kids college then change the name to second kid and fund the second kid's college. Any left over, there's a few options.

You could use a Roth IRA for tuition (this would be too soon to use for 1st kid, unless you had a current Roth IRA.

Invest via an Indivdual brokerage account. You pay the taxes.

Lots of options, depending on goals, risk, and tax advantages being sought. I chose the Roth and Individual approach.

I have a Roth IRA for my youngest since I’ll be 59 when she starts college
I might do that again just wanted to see if the 529s are a better short term option or not