does anyone else have a 529 plan?

[NY Mane]

I just opened one up in the state of Ohio. I wasn't going to use Ohio because I hate Putnam funds but someone told me Ohio added Vanguard funds so that made my decision easy. I am investing in the most aggresive fund allocation for my baby son.

Any investment tips or points that someone can give a new dad would be appreciated.

Thanks.

N_Y_Mane

[Jimmy K]

Originally Posted by NY Mane

I just opened one up in the state of Ohio. I wasn't going to use Ohio because I hate Putnam funds but someone told me Ohio added Vanguard funds so that made my decision easy. I am investing in the most aggresive fund allocation for my baby son.

Any investment tips or points that someone can give a new dad would be appreciated.

Thanks.

N_Y_Mane

i would suggest putting the money into self-balancing funds that automatically adjust as the child gets closer to college, saves you the headache of having to worry about rebalancing in the future.

[domafia]

I've got Ohio 529 plans setup for two very young nephews of mine. While they have been getting spoiled with clothes and toys by their parents, I've been giving them very boring gifts of college savings contributions.

Agree with what Jimmy said but I don't believe Putnam nor Vanguard offer those kind of funds yet. I have $ in aggressive age-based funds for both kids while they are young and will shift those over to something more conservative years down the road.

[ryhenry09]

Originally Posted by domafia

I've got Ohio 529 plans setup for two very young nephews of mine. While they have been getting spoiled with clothes and toys by their parents, I've been giving them very boring gifts of college savings contributions.

Good idea here. I have set-up each of my Godchildren with stock plans. So every XMas and BDay they dont get flooded with toys from me/wife. When they are 18 they will thank me though when they can go buy a car/tuition.

[domafia]

Originally Posted by ryhenry09

Good idea here. I have set-up each of my Godchildren with stock plans. So every XMas and BDay they dont get flooded with toys from me/wife. When they are 18 they will thank me though when they can go buy a car/tuition.

Exactly.

My nephews won't remember that Aunt so-and-so got them that Tickle-me-Elmo when they were tots, but when they are 18 they will definitely remember the pile of cash from Uncle Dom!

[OldMan]

I did the same thing when my son was born and it is AMAZING how fast it adds up. My son is almost 16 and every quarter when I get the statement I say damn he has college already paid for and he's worrying about a football scholarship!!!! I can't wait till he's 18 and I show him his account.

OldMan

[ryhenry09]

Originally Posted by domafia

but when they are 18 they will definitely remember the pile of cash from Uncle Dom!

[ryhenry09]

Originally Posted by OldMan

I did the same thing when my son was born and it is AMAZING how fast it adds up. My son is almost 16 and every quarter when I get the statement I say damn he has college already paid for and he's worrying about a football scholarship!!!! I can't wait till he's 18 and I show him his account.

OldMan

Nice

[NY Mane]

any amount helps...1 day is a grand and the next could be 50

[Bosox Fan]

I have set up a 529 for all 4 kids. The good thing is if our first child gets a scholarship and does not use up what we put in there for him, then it will roll over to the others.