grumpy
Thinks s/he gets paid by the post
- Joined
- Jul 1, 2004
- Messages
- 1,321
Our first grandchild is due in a few weeks. I have had, for many years, a small ($7K) 529 plan with my son as beneficiary in the Maryland plan. We now live in Virginia and I want to roll that over to one of the Va. plans and change the beneficiary to the grandchild as soon as she gets a social security number. In researching the Va. plans the College America plan thru American Funds looks like the best option for me. However, that plan is only available thru a financial adviser. Being a do-it-yourself investor, I don't have an adviser and don't feel I need one.
Does anyone here have any experience with that plan? The expense ratios look to be modest, though not as low as the other Va. plan which features Vanguard index funds and is sold directly. I'm wondering where the adviser gets his cut on the College America plan. Is there any way to get that plan without paying fees to an adviser?
I intend to call American Funds on Monday and get more info than is available on their web site. DW has an inherited IRA with American funds which has done quite well.
Any insights appreciated.
Does anyone here have any experience with that plan? The expense ratios look to be modest, though not as low as the other Va. plan which features Vanguard index funds and is sold directly. I'm wondering where the adviser gets his cut on the College America plan. Is there any way to get that plan without paying fees to an adviser?
I intend to call American Funds on Monday and get more info than is available on their web site. DW has an inherited IRA with American funds which has done quite well.
Any insights appreciated.