529 College Savings Plan | The Ultimate Guide

[@SukumarMehta22]

One note that wasn’t mentioned explicitly in this video: only the gains are subject to the 10% penalty if you don’t use it for a qualified expense

[@sumitbasnet1663]

This is key!! Thanks.

[@mrfreshest4608]

do not forget income tax

[@girldaddividendinvestor]

That was mentioned. 🎉

[@jackg9526]

Thanks for the advice. I switched my aggressive 529s to the target date ones because it helps with risk, just like if they starting now during this economy and presumably aggressive plan would have had a larger drop in value.

[@bigdougdog]

AVN Branch? Do any time at Rucker? G.I. Bill and TAP enabled me to be much further along in life. Thanks for your videos they are helping my wife and I a lot.

[@seniorDAS]

Missing in the video is that you can deduct the amounts added to the 529 account for the state tax return. Just ensure it's a plan the state office endorses.

[@ryanylitalo152]

Not every state allows a deduction

[@fortnite88146]

no deduction for California

[@kyleboulanger7835]

Hi Tae, can you buy fractional shares for Vanguard ETFs like VOO or VOOG in a 529?

[@dannybui3542]

What happens if I invest in 529 for one year and hit hard time and lose my job and can't afford to invest? Thank you for your video and any guidance on this question 🙏

[@Discovery123.]

Very helpful. Thanks rich dad.

[@peterl2767]

Great content 👍

[@TaeKimFinancialTortoise]

Thank you 🙌

[@tshuxeng5267]

10% penalty on gains still beat getting taxed on gains every year instead of compounding.

[@FledgeinNYC]

You don’t need to pay 10% every year if you don’t sell

[@dmc912]

If you have more than one child is it better to open up one 529 and contribute to that or open up a 529 for each child?

[@madiimo15]

One for each child cause there are limits on gifting! Plus you can’t have several beneficiaries. Yes I know you can update with each child but again gifting limits!

[@kevinarchuleta5880]

Ty sir!

[@JohnDAlmonte]

Hypothetical situation... if I invest in high income ETFs within a 529 and the monthly distributions are able to pay for a child's education without selling any shares, am I able to then change the beneficiary after the first child finishes college and then use the same 529 to pay for the next child's education? Basically, it would be a tax free way to pay for the education of multiple generations?

[@firejoe283]

Minimum is $3k...I need to save up for my kid to save up for college. To do Vangard at least. Any other 529 plans that have a Target enrollment, so it can be aggressive early and low risk as it gets closer?

[@Jlee-SgT]

Question... if my child decide not to go college or we decide not to use money in 529 account at that time. We can still keep an account long as we want? I like that option that, i can pass this to grandchild.

[@rlouie05]

1:50 shows "Tax FREE Growth" on your slides yet you clearly say "Tax DEFFERRED Growth", so we pay Uncle Sam on the gains as this is basically a form of income, right? Besides the gaffe above, nice introduction to 529 as we're debating if we should use Vanguard vs. our state-sponsored plan in ScholarShare.

[@DmitriyKl]

It is crazy that this video has less than 1000 views

[@MatthewAidan4ns]

As an lnvesting enthusiast, I often wonder how top level investors are able to become millionaires off investing. . I’ve been sitting on over $545K equity from a home sale and I’m not sure where to go from here, is it a good time to buy into stocks or do I wait for another opportunity?.

[@JamesOliverr7s]

Well as you know bigger risk, bigger results, but such impeccable high-value trades are often carried out by pros.

[@petemeeks]

I have some insight for you. How would you like me to contact you?

[@benjaminsilver3324]

Great video

[@thesuncollective1475]

Not a great opening explanation, I'm confused. So Its a unit trust fund and if it makes a profit it's tax free. Is that what you mean?

[@eyecontact13]

65 percent in stocks at 8 - weak ; u know that , I get the idea , but why not adjust in like 5 years

[@chetangupta2991]

The vangaurd 529 has an initial contribution of 3k. That is pretty steep. Is this the case with all 529 plans?

[@jenniferbohrer431]

fidelity 0

[@boba5559]

You can look into the 529 plan for your state. They will most likely have lower initial contributions plus some states even provide an annual state contribution amount!

[@KatiaIve]

@@jenniferbohrer431 what portfolio do you recommend for fidelity 529 plan?

[@TonyDan]

2024 update - IRS now allows you to convert unused 529 funds into a Roth IRA

[@notNaB2024]

I thought you live in California? There are no tax benefits.

[@nitishsinghal]

There are many important missing points in this video which might discourage someone to start with 529 college savings plan at first.

[@magnetism693]

like what ?

[@royjohnson9043]

I always trust an Asian

[@shanjin6205]

😂hahaha

[@kar871]

Great video