The Motley Fool Discussion Boards

Previous Page

Financial Planning / Paying For College


Subject:  Re: 529 plans Date:  5/25/2020  1:38 PM
Author:  foo1bar Number:  8554 of 8558

My son is thinking about moving some money for his youngest son into a 529 plan, but he lives in CA and has the impression that the CA plan is not very attractive. Anyone have any input on that plan, other plans, other sources of info?

I live in CA.
And the CA 529 plan is good IMO.
BUT there isn't any reason for me to use the CA plan vs. any other state's plan.

In addition, my parents (my kid's grandparents) are in a state that does give an income tax deduction for 529 contrib.
And my spouse and I trust my parents.
And grandparent's assets aren't part of FAFSA.
So my best option is to give money to my parents and have them contribute to the 529 in their state for benefit of my kids.
It's like a guaranteed extra ~5% ROI for the first year, and the investment options in the grandparent's state are just as good.
Copyright 1996-2020 trademark and the "Fool" logo is a trademark of The Motley Fool, Inc. Contact Us