Any of you with kids chose NOT to open a 529 plan and why?

like
Posting as :
works at
You are currently posting as works at

Can’t hurt. But do we think college will be college in 18 years? Or will people just learn from YouTube videos.

like

My parents never opened one... but that is probably because they didn’t pay for my schooling.

smart

Does your state offer a deduction/credit for contributions? Mine does, so I contribute to it just to the small max for that. Some states require you to use their plan which may have higher fees and/or a poor selection of funds.

Beyond that, I plan to use mega backdoor Roth funds. I'm still researching the specifics but I have the ability to contribute more than I currently do and then it gives us significantly more flexibility. Retirement assets also don't count against us on fafsa if I retire/take a lower paying job before kids are in college and become eligible. Alternatively, if one or more decide not to go to college or college costs are less than expected we can pull out contributions tax free and gift it to them for their first house or jumpstart their retirement.

Sounds like a good plan. I need to do more research into options. We're in MA, the deduction is $2000 which i dont think is worth it.

I chose UTMA so I can control the investments and it also doesn’t need to go toward school.

I'll looking into that thanks!

20k deduction in Illinois for 2 kids 529, get 1k back in taxes.. will use alternatives and stop using it once move out of Illinois..

So do you not think this is a good plan if you live in Illinois?

I started putting $100 a month into 529 the day my daughter was born. Won’t be nearly enough to pay for her college but I’m planning to use Roth contributions since there is more flexibility. I’m too lazy to go through the hassle of halting the $100/mo contributions.

Related Posts

like

Personal finance/investing advice for recent college graduates? Best personal finance and investing books/websites/subscriptions/YouTube channels? Thanks!

like

Help needed: No idea where to look or how start housing search. Household income (myself + wife, no kids...perhaps in 3-5 years) is $250k pretax and we are moving to Indianapolis (so looking at Zionsville, Carmel, Fishers area). Any idea how much house we can afford? Good resources to conduct the search? Any help appreciated.

like

where is the best place to sell or trade in my used car? (2019 van low km’s)

like

What is with people not knowing how to read signs? We have a huge one that says “NO CASH ALLOWED” and I still get asked almost everyday if we take cash

like

I thought the answer is yes but now double checking. Can we write off the interest we pay on our primary residence mortgage?

like

I am selling house and remodeling both master bath and kids bath. Got quote for 29k for both and I buy floors and cabinets.question is I have a very big whirlpool tub and tiles around it discolored. It’s a hassle to lift it up change the tiles and fixtures and put it back. It’s old but works great. Remodeling ppl recommend get rid of it, give space to buyers if they want to buy standalone tub. I thought it adds value to have whirlpool tub. But can’t even change fixture. Should I get rid of it?

Post Photo
like

Fixed ctc 2435000 Lpa with gratuity 3.5k pm and pf including both employer and employee 16k pm. Any estimated what will be take home pm post tax?

like

Does anyone have an idea on the best emerging markets to invest in before the recession hits? Is gold, or any other commodity going to be the safe haven as well? Thanks everyone

like

Anyone took personal loan from HDFC !!
What are their interest rates and charges ?
Which bank is best for personal loan considering all charges/ interest rates and all ??

Opinion on the Milton (Cambridge high) vs Suwannee (Peachtree ridge high) to buy a house? Have a 3 yr old.

like

I’m an Air Force veteran and a realtor the Atlanta and the nearby areas. I would like to be of assistance in any of your real estate needs. I specialize in VA, investment properties as well as residential and commercial properties. If you need a lender I have a lot of those too. How can I be of assistance?

Post Photo
like

What actual stocks you all buying today? Got some cash from settled trades I want to deploy

like

How much have you saved from refinancing your student loan?

Anyone use financial planners or wealth managers? Pros / cons / considerations / recommendation for one in NYC?

like

Why do firms not use vested stock options as incentive in earlier stages of career?

like

Is it mandatory to submit previous employment declaration while submitting Income tax declaration. Or we can just skip this. Since this is my 2 nd company not aware of this much. What happens at the end of financial year if we don't declare previous employment declaration. Seniors kindly help🙏

Pick of the day, stock: happiest mind
Check out return. Pick for long term investment.

Any realtor recs? Looking to buy in Seattle

like

Hi all! I’m new! I started the year off planning to save for a home for myself, then rates skyrocketed. So we’re holding off. Fast forward to the final quarter of the year and we were presented with the idea of a residential assisted living facility. The problem there is we’d still need to acquire property in order to run one. The only difference is the RAL would be a business and is already registered as such. Does anyone have any experience here?

like

More Posts

Hello all..
Is BA Continuum India, a subsidiary of Bank Of America ?
I don't see any official website for BA Continuum India..
How is the salary and other perks in BA Continuum
Any leads plz

like

Got an interview for a business system analyst role, does anyone here know what that career track can like? What could I do after a few years in that role?

like

Thoughts on the best domestic mileage program? Any recommendations for someone also potentially using those miles for international redemptions?

like

Anyone move from agency to consultancy? What is it like? Is the money worth it?

likehelpful

Hi, I have an offer from Deloitte India where LTA is shown as part of CTC. Can I get this amount as monthly or I can only claim this in March (year end). Please help existing Deloitte employees. . Urgent. Thanks a lot. Deloitte India Deloitte USI Deloitte

likehelpful

I just need some Brugal rum, Aventura or Romeo Santos songs on repeat all night…

like

Thoughts on Vertex? Pipeline? Culture? Comp? Looking at a Director role.

like

Moving into a new role to support marketing efforts of two smaller divisions under our brand umbrella. When I asked my boss what the job description was to create year end goals they told me to write one. . . Where do I start?

like
like

Pillsbury Ny thoughts?

like

By which month we get CEO bonus of $750 ? Is it given to everyone regardless of one's performance ?

like

Hello RSM! Is this fishbowl active? Thinking about joining RSM from PwC for the supervisor role. Is there any major considerations I should have?

like

Just got an offer from another big 4 for a 50% increase in base.
Should I take it or stay where I am and keep pursuing an exit to Tech?
Will it be more difficult to exit if I take it?

like

Anyone joining Citi on 5th dec at Pune location?

like

Larsen & Toubro Infotech Can someone please share what are the clients in Poland? I have an offer for GCP + python, if someone can share some project details? How is the WLB?Larsen & Toubro Infotech

like

Hi All,

Anyone who got retained recently in LTI, please let me know, need some help.

So... looking at US Steel (X) and the steel indstry in general. Buy or Short?

Cont.

like

Posting in the main bowl as well in hopes of getting a faster response. Got off the waitlist at Kellogg (no $$); was planning on going to Darden (half $$). What do I do??

like

PwC India Anyone who recently joined pwc India bangalore data analytics team can you tell me how’s the WLB and growth here !?PwC India PwC

like

Just curious - What is a ballpark estimate of in hand salaries for people with around 5+ years of work ex and an MBA degree(Tier 1 college) in India?

like

Additional Posts in Personal Investment Chatter

Should I lower my contributions to my 401k and save up for a down payment faster? I want to start having multiple streams of income. Planning on getting a multi-family apartment but not living there since I want to buy a semi-cheaper house so it won’t be in a great area (Chicago). Has anybody done it and regretted buying a house as an investment?

like

I'm thinking of entering the show The Ultimatum marry or move on

like

How would you sell ETFs in retirement since there is no average cost option for etfs?

like

Ally bank dropping rates again. CD a good choice?

To those who consistently invest in Bitcoin or other crypto, why? Genuinely curious into why you’re long term bullish about it. Debating adding it to my list of regular investments but can’t mentally justify it yet.

like

What are your favorite personal finance books? I just read Rich Habits and really liked it. I am also reading the Psychology of Money. Looking to read some more!

like

Current fantasy is to retire at 45, get my MLS, and become an elementary school librarian. What would you do to pass the time in early retirement?

like

Is Disney a buy @ 112? I know the upside is if/when the parks can reopen it should go up. Also Disney+ is continuing to beat expectations. Just worries that the parks will@be delayed even more which will hurt them

likehelpful

Voyager just filed Ch 11 bankruptcy. Rest in pieces.

like

What do I do with a defunct company stock that still sporadically has trading volume? For reference, it went permanently out of business I. 2016 (chapter 6) but the stock still trades occasionally. Do I need to sell so I can claim the loss or will it just automatically go to 0 at some point? I would have expected it to happen eventually but it still has value (about 2 bucks for 200 shares lol)

like

Why is Oracle buying tiktok? seems utterly far stretched away from oracle’s current business model

Post Photo
likesmart

At this point, I am ready to die with my GME stocks. 😩 My grandkids will inherit it. I am ordering my certificates as a souvenir. 💎 🙌🏾

like

I had 50% in VT and 50% in individual stocks in my brokerage account but I just accepted a job from a Big 4 so I need to sell some of my individual stocks. I need to invest that amount in something else and I want to tell my portfolio a little bit towards something that’s a bit more risky for higher potential returns. Any suggestions on ETFs to look into?

like

Is it still worth buying Tesla stock? Especially after rising so much since year start?

like

Anyone have an HM Bradley referral they’d like to share w me? Feel free to PM me if you don’t want to post your referral link.
Thanks 🐠

like

Has anyone invested in the Vanguard asset allocation ETFs? Thoughts, comments, reactions? VEQT, VGRO, VBAL, VCNS, VCIP...Canadian here so not sure if these products are available in the US...

like

Why are markets up today ? Has the panic subsided?

like

Father who’s living in my home country is transferring an apartment ownership to me. Should I be worried if this is some sort of a signal, maybe about his health? Also what do I need yo be aware of legally and financially?

like

Dinner after rough day in market 😁

Post Photo
funnylike

Have 350k in cash, have unfortunately been super conservative or rather I would say silly holding money in the bank all this while. What would be a reasonable strategy to invest this money?

likesmart

New to Fishbowl?

Download the Fishbowl app to
unlock all discussions on Fishbowl.
That was just a preview…
Sign Up to see all discussions
  • Discover what it’s like to work at companies from real professionals
  • Get candid advice from people in your field in a safe space
  • Chat and network with other professionals in your field
Sign up in seconds to unlock all discussions on Fishbowl.

Already a user?
Login here

Share

Embed this post

Copy and paste embed code on your site

Preview

Download the
Fishbowl app

See what’s happening in your industry
from the palm of your hand.

A phone with Fishbowl app

Scan your QR code to download
Fishbowl app on your mobile

Download app

Sign up for free to view this conversation on Fishbowl

By continuing you agree to Terms of Use and Privacy Policy

Already have an account? Log in

Sign up for free to continue using Fishbowl

By continuing you agree to Terms of Use(New) and Privacy Policy(New)
Messaging rates may apply

Already have an account? Log in

For account settings, visit Fishbowl on Desktop Browser or

General

Legal