15 Replies to “529 College Savings Plan Explained”

  1. dude I think you're wrong if I understand correctly from your video to implying that it has double tax advantage being contributions tax deductible and distributions not taxing the gains but I think the only benefit is the later one

  2. Twins just turned one on Tuesday. I opened a 529 for both on Monday ($75 a piece). By time they get to college and if I put in $50 a month then they should both be able to buy a nice pencil by time they start school. My first semester was $2800 my last semester was $4400. Fortunately I had a dad with $$. I don’t make half of what he made so I really have to start early. And if it tanks when they’re 18. They can get a job for 2-3 years because I sure as hell didn’t know what I wanted at 18. I’m 32 now and I still don’t know what I want to do.

  3. What kind of twisted system have we created when u have to save for education like u r trying to save for retirement. Which I don’t understand either.

  4. Can I use a 529 plan and open one while im in college? I'm planning to transfer to to a 4 year next year.

  5. So it's taxed twice? Once when it goes in,and again if you put too much in? Sounds like garbage. Better off putting it into and index fund and taking a hit only once.

  6. 10% penalty and income tax if you don't spend the money on college??? I would understand only if those dollars haven't already been taxed (similar to traditional IRA or 401k) but certainly not in this case. We're better off investing in mutual funds directly or just putting the money in a CD and have control over it.

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