Which state offers the best 529 plan if my state doesn't offer any tax advantages for their plan?
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It depends on what you are looking for, for me I would go with lowest fee which is the Utah Educational Savings Plan Trust. Kipling provides a list of the top plans in five different categories: -Best for low fees -Best portfolios of underlying funds -Best plan for conservative investors -Best mix of investment choices -Best adviser-sold plan http://www.kiplinger.com/features/archives/2007/08/best529s.html This list is two years old so things might have changed since then. |
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Here are the top 5 mentioned from Consumer Reports 2009 if no overwhelming in-state tax advantages exist:
(via: http://www.fivecentnickel.com/2009/04/27/the-best-529-plans-2009-edition/) |
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These are the very best plans in the country. State Plan information Utah Utah Educational Savings Plan Trust Iowa College Savings Iowa New York New York's College Savings Program - Direct Sold Source: clarkhoward.com |
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Just because a plan is better then others, does not mean it is good. I started looking at the Massachusetts plan 2 years ago, and thought the fee (% of funds taken by various people) very high, the offerings skewed to complex things that allow fees to get jacked up, and the state agency (MEFA) non at all transparent. Remember, the guys who are trying to get your money - fidelity and all the other companys that make money on fees - they have a lot more resources to buy legisltors and state regultors then you do |
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