The most informative 529 plan site online – savingforcollege.com

by Evan on September 28, 2009

I have posted a link on my resources page for the most informative website that I am familiar with regarding college savings plans, or 529 plans. Savingforcollege.com allows users to compare state college 529 savings plans side by side and through a comprehensive 5 cap rating system.

Depending on an individual’s need, there are several state 529 plans that are worth looking at here in Texas. Since our state does not have an income tax, you can feel free to choose the best plan from any state offered on the website. There is no tax benefit for Texas residents to use the Texas 529 plan. Some of the plans that I have used under different circumstances are the Nevada Vanguard 529 Savings Plan, the Ohio CollegeAdvantage 529 Savings Plan, the Utah Educational Savings Plan Trust, and the Virginia Education Savings Trust (VEST). Each one uses primarily Vanguard funds, which allows for the owner to minimize costs and obtain broadly diversified index funds. Make sure to check into the costs associated with maintaining the 529 plan along with the actual investment costs. For instance, the Utah plan charges a fee each year to maintain the account, while the Ohio plan does not. However, be sure to select the most appropriate investment vehicle, also. I have chosen the Utah plan over other plans in the past for larger accounts because of the flexibility of investments and the overall expense ratios of the underlying funds being lower.

Be sure to check out all of this by linking to www.savingforcollege.com and then click on 5 Cap Ratings. As always, feel free to contact me for additional help!

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