Comments on: Section 529 Plans for Grandparents http://www.financialabundanceguide.com/2007/09/08/blog_529_plans_for_grandparents/ Your Guide to Financial Abundnace Sun, 09 Sep 2007 22:23:10 -0700 http://wordpress.org/?v=2.8.4 hourly 1 By: wayne http://www.financialabundanceguide.com/2007/09/08/blog_529_plans_for_grandparents/comment-page-1/#comment-4 wayne Sun, 09 Sep 2007 22:23:10 +0000 http://www.financialabundanceguide.com/2007/09/08/section-529-plans-for-grandparents/#comment-4 I have never heard of a 529 Plan "losing" a participant's money. It sounds like, even in your sister's case, Moi was eventually able to find the "lost" money. I suspect it was some kind of administrative problem that caused this to occur. There are many 529 plans to choose from and there is no requirement to use a plan that is in your home state. The best source that I know of for advice on Section 529 College Savings Plans is savingforcollege.com It even ranks the best plans offered in each state. Go to my links section to find this site. If you choose a plan and are not happy with its performance, you may move the funds to another plan after 12 months, so you are not "stuck" if you do not like the initial plan you choose. I hope this helps! I have never heard of a 529 Plan “losing” a participant’s money. It sounds like, even in your sister’s case, Moi was eventually able to find the “lost” money. I suspect it was some kind of administrative problem that caused this to occur.

There are many 529 plans to choose from and there is no requirement to use a plan that is in your home state. The best source that I know of for advice on Section 529 College Savings Plans is savingforcollege.com It even ranks the best plans offered in each state. Go to my links section to find this site.

If you choose a plan and are not happy with its performance, you may move the funds to another plan after 12 months, so you are not “stuck” if you do not like the initial plan you choose.

I hope this helps!

]]> By: norma http://www.financialabundanceguide.com/2007/09/08/blog_529_plans_for_grandparents/comment-page-1/#comment-3 norma Sun, 09 Sep 2007 14:30:57 +0000 http://www.financialabundanceguide.com/2007/09/08/section-529-plans-for-grandparents/#comment-3 My sister writes that her family had "terrible" problems with the 529 plan that my father established for her grandchild. It was in a Fidelity plan, (I'm not sure from which state.) My sister wrote that: "Fidelity "lost" half of the funds and it took Moi forever until he got them to "look" for the funds and "find" them." So I take it that some of the 50 plans are better than others. Which states have really good plans? What is the track record of the "good" ones? 6% a year, or 7% or even 8%? How do i research this? Which are unreliable? Do any of them really lose your money, or was this most likely an administrative glitch that is just part of the financial services industry, but is not really dangerous to your money? Can you move your plan to another plan if you feel the original investment isn't working out? Thanks for your advice! I feel like i can completely rely on you to give me the "straight scoop!" My sister writes that her family had “terrible” problems with the 529 plan that my father established for her grandchild.

It was in a Fidelity plan, (I’m not sure from which state.) My sister wrote that: “Fidelity “lost” half of the funds and it took Moi forever until he got them to “look” for the funds and “find” them.” So I take it that some of the 50 plans are better than others. Which states have really good plans?

What is the track record of the “good” ones? 6% a year, or 7% or even 8%? How do i research this? Which are unreliable? Do any of them really lose your money, or was this most likely an administrative glitch that is just part of the financial services industry, but is not really dangerous to your money?

Can you move your plan to another plan if you feel the original investment isn’t working out?

Thanks for your advice! I feel like i can completely rely on you to give me the “straight scoop!”

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