529 plan

[elev]

Evarina tiskunara which one is best

[Pahelwan4]

9 minutes ago, elev said:

Evarina tiskunara which one is best

Yes it’s important I took it for my kids 

 

path2college

[Barney_Stinson]

check utah plan

[LadiesTailor]

2 hours ago, elev said:

Evarina tiskunara which one is best

Depends on your states… some states offer tax breaks and if your state has good colleges then in state option is best… if not all American plan 

[megadheera]

Check Nevada plan in vanguard 

[Hyderabadbabu]

India lo unna parents ikkada mana kids ki gift kinda 529 plan ki contribute cheyocha bros...any one tried.. an alternate way to bring money from India..asalu workout avtada.. unnecessary complications unnaya?

[Spartan]

32 minutes ago, Hyderabadbabu said:

India lo unna parents ikkada mana kids ki gift kinda 529 plan ki contribute cheyocha bros...any one tried.. an alternate way to bring money from India..asalu workout avtada.. unnecessary complications unnaya?

529 badalu grand parents can pay school fee direct transfer to college.

no questions asked

[Hyderabadbabu]

but kids around 5years aitey ...still long way to go kada .. 

[thokkatholu]

On 9/12/2024 at 1:27 PM, Sucker said:

7 hours ago, Hyderabadbabu said:

but kids around 5years aitey ...still long way to go kada .. 

start when they have SSN. I have Utah. Currently 8 y/o has 200k, 6 y/o 150k. You need 600k for each kid.

[KATHRI]

1 hour ago, thokkatholu said:

start when they have SSN. I have Utah. Currently 8 y/o has 200k, 6 y/o 150k. You need 600k for each kid.

Did you front load? If so how much and how much it grew?

[baabaa]

1 hour ago, thokkatholu said:

start when they have SSN. I have Utah. Currently 8 y/o has 200k, 6 y/o 150k. You need 600k for each kid.

600K is too much unless you are planning for ivy leagues. Generally state schools are costing 120K for 4 yr bachelors in TX. Medical School is another $150K but if they made it to medical school I will ask them to take student loans. Sutti course aiyte I will not even pay for bachelors. Seen many kids waste parents money on sutti courses and becoming Business Analyst in IT. Many kids doing bachelors in information systems, basic ga ameerpet course with a university degree certificate.

[thokkatholu]

36 minutes ago, KATHRI said:

Did you front load? If so how much and how much it grew?

I did front load and contribute monthly. 

[Anta Assamey]

1 hour ago, thokkatholu said:

start when they have SSN. I have Utah. Currently 8 y/o has 200k, 6 y/o 150k. You need 600k for each kid.

What if your kids get scholarship and they study what ever they want to for free... Then what happens to all that money...

[Hyderabadbabu]

Front load is a good one .. but that much amount of money antey .. picha lit.. can’t afford.. if my parents from India contribute chestey.. 529 plan ki..workout cheese option evaranna try cheste cheppandi bros.. 

529 plan untey college financial aid impact avtadi .. but that’s minor antunnaru .. not sure though 

[baabaa]

16 minutes ago, Anta Assamey said:

What if your kids get scholarship and they study what ever they want to for free... Then what happens to all that money...

It can be used by sibling. Can also be used for grandkids also latest ga it can be converted to kids IRA/Retirement.

Basic concept is, lets say you invest $100 and it becomes $200 when your kids goes to college then you can pay college fee/expenses using those $200 without any tax.

Ade same $100 if you invest in same stocks which Utah Fund or Vanguard is investing, that will also become $200 but when you sell those stocks to pay for college you will have to pay tax.