Do You Think the 529 Plan Will Continue?

[R. Paul Aguirre]

I would love to hear your guys' views on whether the 529 plan will be "renewed" in 2010 or not. I have a little one and am wondering what the best vehicle for his educational planning will be. Should we start a plan? Will it still be there in a year?

 

[CHUMPS FROM OXFORD]

I think it will.

 

[Death Cab For Tootie]

The state governments alway wants their money, so I think 529's will keep their status in '10 and beyond.

I don't think they're the end-all be-all of college planning. IMO there isn't one perfect college funding vehicle - 529s are just one tool that can be utilized.

 

[R. Paul Aguirre]

Thanks guys. This is actually an option for the grandparents, and brought up by them. I was thinking of maybe a 15 year ROP on me that way if I die he wins, if I live he wins(or maybe an over funded UL)

 

[annuityseller]

IT NEVER A BAD IDEA to purchase life insurance as I've never had a beneficiary tell me to take back some of the death benefit as it was to much!!!!

 

[Norwayguy]

Thanks guys. This is actually an option for the grandparents, and brought up by them. I was thinking of maybe a 15 year ROP on me that way if I die he wins, if I live he wins(or maybe an over funded UL)

I have told some of my clients that I refused to sell them a 529 plan until at least a Life Insurance policy was in place...Because the 529 plan is not self completing and that if something did happened to one of the parents with out Life Ins many other priorities would not be taken care of.

 

[ABC]

I do think the 529 plan will stay in place.

I actually have them for both my kids. I used Upromise College Fund - Welcome to the Upromise College Fund

They give some control to the account holder. So I am able to change the investment strategy twice a year if I choose.
Now I don't have any control over the funds they offer.

I like the 529 because of the Tax credit but for more control on investment I would say a personal Roth IRA is good choice. As I understand it you can withdraw from a ROTH for your kids education on a tax free basis.


I am speaking from a consumer standpoint.