I disagree.You have as much control over the money as any mutual fund investment. You can start with your money in a Fidelity S&P500 index. If you don't like that, you can move it to a different fund - maybe TIAA-CREFF's small cap blend index, or maybe Voya's GNMA income fund (bond fund).Correct it is like a mutual fund, usually with management fees. Again you do not have control over what they invest in a mutual fund just like the 529. Why not allow us to open a brokerage account designated as a 529 plan and allow us to invest in whatever we want. Real Estate, Metals, Individual Stocks, Bonds, Mutual Funds etc..On the fees for example go here to page two: http://files.collegesavingsmd.org/cip_disclosure.pdf#page=4Then check out page 5Over 10 years if you invest $10,000, the cost (fee) is about $1,000 and that is with a 5% rate of return.This is for my state, yours might be better.
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