Missing in the video is that you can deduct the amounts added to the 529 account for the state tax return. Just ensure it's a plan the state office endorses.
Thanks for the advice. I switched my aggressive 529s to the target date ones because it helps with risk, just like if they starting now during this economy and presumably aggressive plan would have had a larger drop in value.
AVN Branch? Do any time at Rucker? G.I. Bill and TAP enabled me to be much further along in life. Thanks for your videos they are helping my wife and I a lot.
What happens if I invest in 529 for one year and hit hard time and lose my job and can't afford to invest? Thank you for your video and any guidance on this question 🙏
Question... if my child decide not to go college or we decide not to use money in 529 account at that time. We can still keep an account long as we want? I like that option that, i can pass this to grandchild.
Minimum is $3k...I need to save up for my kid to save up for college. To do Vangard at least. Any other 529 plans that have a Target enrollment, so it can be aggressive early and low risk as it gets closer?
1:50 shows "Tax FREE Growth" on your slides yet you clearly say "Tax DEFFERRED Growth", so we pay Uncle Sam on the gains as this is basically a form of income, right? Besides the gaffe above, nice introduction to 529 as we're debating if we should use Vanguard vs. our state-sponsored plan in ScholarShare.
You can look into the 529 plan for your state. They will most likely have lower initial contributions plus some states even provide an annual state contribution amount!
One note that wasn’t mentioned explicitly in this video: only the gains are subject to the 10% penalty if you don’t use it for a qualified expense
This is key!! Thanks.
do not forget income tax
That was mentioned. 🎉
Missing in the video is that you can deduct the amounts added to the 529 account for the state tax return. Just ensure it's a plan the state office endorses.
Not every state allows a deduction
10% penalty on gains still beat getting taxed on gains every year instead of compounding.
Thanks for the advice. I switched my aggressive 529s to the target date ones because it helps with risk, just like if they starting now during this economy and presumably aggressive plan would have had a larger drop in value.
AVN Branch? Do any time at Rucker? G.I. Bill and TAP enabled me to be much further along in life. Thanks for your videos they are helping my wife and I a lot.
If you have more than one child is it better to open up one 529 and contribute to that or open up a 529 for each child?
Hi Tae, can you buy fractional shares for Vanguard ETFs like VOO or VOOG in a 529?
What happens if I invest in 529 for one year and hit hard time and lose my job and can't afford to invest? Thank you for your video and any guidance on this question 🙏
Very helpful. Thanks rich dad.
Question... if my child decide not to go college or we decide not to use money in 529 account at that time. We can still keep an account long as we want?
I like that option that, i can pass this to grandchild.
Minimum is $3k...I need to save up for my kid to save up for college. To do Vangard at least. Any other 529 plans that have a Target enrollment, so it can be aggressive early and low risk as it gets closer?
It is crazy that this video has less than 1000 views
Great content 👍
Thank you 🙌
Thank you!
Not a great opening explanation, I'm confused. So Its a unit trust fund and if it makes a profit it's tax free. Is that what you mean?
1:50 shows "Tax FREE Growth" on your slides yet you clearly say "Tax DEFFERRED Growth", so we pay Uncle Sam on the gains as this is basically a form of income, right?
Besides the gaffe above, nice introduction to 529 as we're debating if we should use Vanguard vs. our state-sponsored plan in ScholarShare.
65 percent in stocks at 8 - weak ; u know that , I get the idea , but why not adjust in like 5 years
Great video
The vangaurd 529 has an initial contribution of 3k. That is pretty steep. Is this the case with all 529 plans?
fidelity 0
You can look into the 529 plan for your state. They will most likely have lower initial contributions plus some states even provide an annual state contribution amount!
@@jenniferbohrer431 what portfolio do you recommend for fidelity 529 plan?
I thought you live in California? There are no tax benefits.
There are many important missing points in this video which might discourage someone to start with 529 college savings plan at first.
like what ?
I always trust an Asian
😂hahaha
Great video