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Zhoo

Joined: 08/14/1998 Posts: 117635
Likes: 15876


It might vary from state to state and you can invest in any state's 529


you want and it might be better off you invest outside of MD if you are not pre-buying the state tuition like I did in Illinois.

My original question was two fold
1. Should we consider moving up a 529 in the order you invest money inlets say conventionally it would fall as the 4th option to put money - should it move up to say #2 on the list after a 401K?
2. Why should someone stop investing into that fund once their kids finish college? Seems like its an easy way to pass money from you to your kids/grandkids outside of trusts/yearly gifts etc and it doesnt seem to count against any of those limits.

So lets say I have 12K to invest per year in a ROTH 401K and two 529s....should I max out my 529s before I out anything in my Roth? Should I max out my Roth first and then put the rest into 529s? Assume I can deduct up to 20K from 529s in my state income tax and I can fairly get the same ROR in both 529s and IRAs......


[Post edited by Zhoo at 06/15/2021 1:57PM]

(In response to this post by Quaker)

Posted: 06/15/2021 at 1:51PM



+0

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Current Thread:
 
  
529 Plans and estate planning.... -- Zhoo 06/15/2021 12:23PM
  Will there even be tuition in the future? ** -- ryno hoo 06/15/2021 1:55PM
  529's can be great wealth transfer tools. -- SouthernHoo 06/15/2021 12:58PM
  I didnt know you could use your 529 for this -- Zhoo 06/15/2021 5:12PM
  Thanks for posting the link ** -- 105A 06/15/2021 3:57PM
  Not sure all states, but Va you have to use within 30 years -- Chesapeake HOO 06/15/2021 12:33PM
  Right now I have two accounts in my name -- Zhoo 06/15/2021 1:29PM
  100% yes. Can each have an account for each kid -- hoos2008 06/15/2021 3:15PM
  Tax deduction yes. But can contribute more -- hoos2008 06/15/2021 5:38PM
  Its a great way to get great gains early on -- Zhoo 06/15/2021 8:42PM
  Illinois....... -- Zhoo 06/15/2021 5:08PM

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