2007-01-08 05:12:34 · 3 answers · asked by Chattin C 1 in Business & Finance ➔ Investing
Live in Florida, assume a State of Florida school.
2007-01-08 05:17:45 · update #1
Hard to answer without knowing specifics (what state you live in, income level, where your child wants to go to school, etc.) You can compare 529 plans at www.savingforcollege.com
2007-01-08 05:15:30 · answer #1 · answered by aidea 3 · 0⤊ 0⤋
There is two plans offered in Florida, the Florida College Investment Plan and Florida Prepaid College Plan. Both plans instead of utilizing mutual funds hires various money management firms to separately manage the investment pools. However, the Florida College Investment Plan is a saving type plan. Whereas the other is a prepaid contract, so make sure you are goint to a school in Florida if your are going to use the later.
Because the program type is different it is hard to say which option would be better, it all depends on your circumstances. And above all the Florida plans may not be the best plans for you and your family. The 1st plan I mentioned, the savings plan also requires a 0.75% mgmt fee, other plans may not have this fee.
I agree with looking at www.savingforcollege.com there are too many unique opportunities that may or may not benefit you. Do a little more research as to what specific features and benefits you are looking for and I may be of help to narrow your search to just a few.
2007-01-08 14:10:26 · answer #2 · answered by DreamMaker 2 · 0⤊ 0⤋
CollegeAmerica savings plan through American Funds is excellent. The costs are low while the options and performance are excellent. All of their funds have beaten the S&P 500 index over the last 10 years!!!
(American Funds don't only have US funds, they also have great international funds)
2007-01-08 13:41:15 · answer #3 · answered by MR MONEY 3 · 0⤊ 0⤋