Tuesday, August 22, 2006


I am looking at different educational savings plans and would like advice from any of you finance-savvy people out there.

Mutual fund vs. 529e vs. Custodial account? Hmm…

I’m a bit torn. I like the tax advantage of a 529e; however, don’t like the idea that the money can only be used for one purpose (education). What if the college-bound student doesn’t need the money due to scholarships or attends a school with lesser tuition? I just like being in control of my own money and not having rules placed on it. With an income above the average American, I am in need of tax advantages, so I suppose I could learn to deal with the loss of control.

Any comments?


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