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  • #31
    Re: retirement.

    Originally posted by goon View Post
    The state runs the 529 correct? I was hoping to start that soon too. I heard I think utah has a great 529 plan so can a person choose which state to put that investment in? Or is it about the same everywhere.
    There are different tax consequences on 529s depending on the state you are living in. You can get a break in Va. for putting money in the Va. plan, but not in any other plan, for instance.

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    • #32
      Re: retirement.

      I put half my contribution into a different more conservative fund and kept half in the lifecycle fund. I am looking at an ETF now also a multi sector bond but might wait a little bit to do a bit more research. Plus the etf looked like its been going up so I would perfer to wait till it atleast dips some beofre I go into it. Assuming it will drop. Next up picking a 529 plan.
      "The most rewarding things you do in life, are often the ones that look like they cannot be done.” Arnold Palmer

      Don't sweat the petty things, and don't pet the sweaty things.

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      • #33
        Re: retirement.

        Make sure you're comfortable that you're adequately funding your retirement before investing too much in the 529 plan. You (and/or your kids) can borrow money for college. You can't borrow money to pay for your retirement.

        That said, we did immediately start 529 plans for each of our two kids upon their births and kick in monthly -- an amount that probably is more than I think it should be and less than my wife thinks it should be. Let's just say we have slightly different philosophies on how much of our kids' college educations we should attempt to fund.
        @JacksFanInNeb

        I've always believed that if someone wants to run a country, he should know how to run a tractor first.
        --Steve Hartman, CBS Sunday

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        • #34
          Re: retirement.

          Originally posted by jacksfaninne View Post
          Make sure you're comfortable that you're adequately funding your retirement before investing too much in the 529 plan. You (and/or your kids) can borrow money for college. You can't borrow money to pay for your retirement.

          That said, we did immediately start 529 plans for each of our two kids upon their births and kick in monthly -- an amount that probably is more than I think it should be and less than my wife thinks it should be. Let's just say we have slightly different philosophies on how much of our kids' college educations we should attempt to fund.
          Very true. At the same time I want to atleast start it because the way the student loan industry is going. The more we can cover with out needing out side assistance the better.
          "The most rewarding things you do in life, are often the ones that look like they cannot be done.” Arnold Palmer

          Don't sweat the petty things, and don't pet the sweaty things.

          Comment

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