Clever ways to setup 4 year college investment?
My sister's kid got into Seattle U but can't afford it, he will need $15k/year starting next year .. I'm happy to set aside $60k now but would prefer that they, and I, can't touch it except for the $15k check each year, and if I can make it tax efficient, even better. Anything better than just collect 1.5% from ally bank?
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Return to Your Power 1username May 10, 2018
+1 on 529 to make sure they are used for accredited education (or related and approved education expenses)
Microsoft AweAwe May 10, 2018
What plans do u use for 529? And fidelity?
A WA state 529 GET account must be opened 2 years before they will distribute funds :-(
Return to Your Power 1username May 17, 2018
Set one up with 30grand. For junior and senior year
Yeah .. that's valid. Doesn't really seem worth it so I'm just going to write a check anually.
Does a 529 work? My529.org is what I use.
Good point .. I usually think of 529 as long term savings not just a 4 year lock up but .. it might work. Thanks!
529 short term only makes a lot of sense if you are in a state that has tax breaks on contributions but the tax break on growth will help a little in the last couple of years. Only real down side is you're still limited to going very safe or risking losing principle