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Post by Admin/YBB on Dec 21, 2020 19:20:03 GMT -6
529 plans for college education can be used for [post high school] vocational, community college, college/university, graduate and professional education. Many 529s have state tax benefits for state residents; if not, people can select any other state 529 plan. Annual contribution limit is $15K/beneficiary/individual, $30K/beneficiary/couple; 5 yrs worth of contributions can be pulled forward [IRS 709 filing required]. 529 assets are no longer counted in owner/grantor’s estate but there can be clawbacks by creditors. Parents, grandparents and others can open 529 for a beneficiary but the annual limits apply; there are complex financial aid eligibility implications.. Morningstar has new ratings for 529s that have 3 Gold [IL, MI, UT], 11 Silver, 21 Bronze, 18 Neutral and 8 Negatively rated plans. #personalfinance 11/3/20. www.morningstar.com/articles/1006084/the-top-529-college-savings-plans-of-2020[highlight link text--Go to http://www....; or highlight link text--copy (don't copy link address)--paste in a new tab to open]
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Post by Admin/YBB on Mar 11, 2021 11:58:28 GMT -6
M* 529 Map - click on a state for state 529 plan details. 529.morningstar.com/state-map.actionLink should open, but if not: [highlight link text--Go to http://www....; or highlight link text--copy (don't copy link address)--paste in a new tab to open]
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Post by Admin/YBB on May 27, 2021 9:24:15 GMT -6
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Post by Admin/YBB on Jun 14, 2021 16:57:24 GMT -6
New changes to financial aid form FAFSA are favorable for Grandparent 529. Previously, Parent 529 were more favorable than Grandparent 529 for FAFSA. Reason was that Parent 529 counted as assets, but withdrawals from Grandparent 529 counted as beneficiary’s income (so that hurt more in financial aid eligibility). But the new FAFSA changes remove this oddity and will just use IRS-income, if any, of the beneficiary. So, some of the tricks people have considered before are no longer needed (e.g. transferring ownership from grandparent to parent as college time approaches; delaying the use of Grandparent 529 until later years, etc). www.savingforcollege.com/article/new-fafsa-removes-roadblocks-for-grandparent-529-plans
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Post by Admin/YBB on Jul 15, 2021 15:17:42 GMT -6
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Post by Admin/YBB on Oct 26, 2021 9:11:21 GMT -6
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Post by Admin/YBB on Nov 18, 2021 12:17:49 GMT -6
Response to a question/complaint about UT 529 by kimokazi at M*, community.morningstar.com/s/question/0D53o00005l0N74CAE/m-529-ratings-2021"yogibearbull (Customer) Edited 3m ago I checked out UT 529. It seems that it has listed tickers UTxxx with designated low-cost funds (often institutional) under them. This device allows UT 529 to change underlying funds in future without changing tickers, and also indicate clearly the underlying fund ER + plan ER for the total ER that is low. Now if all 529s started doing this, imagine the huge numbers of special tickers. It didn't remove VIIIX/SP500 but it is now hidden under UTVLX = VIIIX. There seems too much of VTSTX/Total Stock Market as UTSTX = UTVTX = VSTSX (why 2 UTxxx tickers are needed?) So, I would say that I like the simplified UT 529 design. The new tickers UTxxx are recognized by Yahoo Finance, Nasdaq, CNBC, etc BUT NOT BY M*, Stockcharts, etc. Hopefully, things will improve, and you can complain to M* about it. In the meantime, you can use the tickers of the underlying funds for tracking - you would be little bit off due to small ER differences. my529.org/performance-returns/my529.org/wp-content/uploads/2018/01/Asset-Fee-Table.pdf529.morningstar.com/529p/overview.action?state=UT&planID=5PUSA00019"
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Post by Admin/YBB on Apr 18, 2022 6:28:47 GMT -6
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Post by Admin/YBB on Apr 27, 2022 6:26:42 GMT -6
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Post by Admin/YBB on May 6, 2022 7:10:28 GMT -6
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Post by Admin/YBB on May 18, 2022 12:20:19 GMT -6
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Post by Admin/YBB on May 26, 2022 11:29:48 GMT -6
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Post by Admin/YBB on Dec 28, 2022 12:43:06 GMT -6
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Post by Admin/YBB on Jan 25, 2023 12:33:56 GMT -6
Good M* The Long View podcast transcript on college applications, choices, funding (loans, scholarships, FAFSA/CSS), savings (529s, Roth IRAs, etc). Podcast guest is Ann Garcia, author of the book, How to Pay for College (07/2022), and blog The College Financial Lady. the-long-view.simplecast.com/episodes/ann-garcia-QskChWtV/transcriptTwitter LINK w/YBB comments www.amazon.com/How-Pay-College-financial-education/dp/0857199293thecollegefinanciallady.com/
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Post by Admin/YBB on Jan 25, 2023 16:04:22 GMT -6
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