MCA wrote:Every advice I ever received from a professional is that they're fairly pointless.
The goal of a lot of financial professionals with regards to college is to get as much paid for as you can. 529 goes right to the school. Plus, no real guarantee that any one of my kids will go to college, or go without some sort of a scholarship. I mean, i think they'll go, but I can't guarantee it to the point that I want to lock 10k a year up in something that will be penalized if you don't use it for schooling.
Plus, I'm still paying off loans at 33. Its not killing me....won't kill my kids either.
my wife has 4 brothers and sisters and they were gonna start a 529 plan for us for our daughter's christening gift. I'm guessing they'll start it with about $500 combined. They wanted us to pick out a plan. I guess there are a few different options. After that, I don't know how much we would contribute annually. Not close to ten grand though. You think it doesn't make any sense for us to do this? It wasn't my idea, they came up with it. Obv I'd rather they write us a check and we put it in the baby's savings acct.