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Re: Best investment for a baby?
Old 02-12-2007, 10:34 PM   #21
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Re: Best investment for a baby?

Quote:
Originally Posted by Peaceful_Warrior
FD - just to clarify -- is the 529 the same as IRAs in that you can pull out the contributions tax/penalty free at any time?

If so, that may encourage me to open one.

Also, can't the funds also be used for my own education should I go to get an MBA or Master's? Or is that a different kind of fund?

Yes, under CURRENT tax law, you can pull out the money federal tax-free, and also tax-free in a number of states. What Congress will do after 2011 is not clear, but there will be pressure to keep things status quo, particularly since there' s state govt. oversight on these.............

Yes, the funds can be used for you to get a grad degree, or your wife. That is a MUCH different world than custodial accounts like UTMA/UGMA.
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Re: Best investment for a baby?
Old 02-13-2007, 03:10 AM   #22
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Re: Best investment for a baby?

Thanks for the additional info!

I guess the 2011 thing isn't such a big deal in my opinion... worse comes to worse, once we see the tax laws will change I can pull out the contributions before then and let the profits ride.

Quote:
Originally Posted by FinanceDude

Yes, under CURRENT tax law, you can pull out the money federal tax-free, and also tax-free in a number of states. What Congress will do after 2011 is not clear, but there will be pressure to keep things status quo, particularly since there' s state govt. oversight on these.............

Yes, the funds can be used for you to get a grad degree, or your wife. That is a MUCH different world than custodial accounts like UTMA/UGMA.
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Re: Best investment for a baby?
Old 02-15-2007, 12:46 PM   #23
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Re: Best investment for a baby?

Could look into a
DIRECT INVESTMENT
Folio Services, DPPs and DRIPs
http://www.wall-street.com/directlist.html


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