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Post by gibbsgirl on Nov 29, 2015 4:57:24 GMT
We have had a good experience investing with the 529s in Utah. You do not need to live in Utah to open an account.
When we opened the accts they were the best choice IMO based on our research. That was before 2008. I gave not done a comparison since then, so I don't know if that holds true still.
But, we have been satisfied that they are doing a reasonable job since then.
Just thought I'd start a thread here, to help get this area of topics going.
Anyone have their own experiences to share?
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Post by sawmilljim on Nov 29, 2015 16:24:01 GMT
I guess it is good at this point many still have faith in the long term of a fiat currency . But to many these things appear to be more for the benefit of the Fed. than the people. When there is talk of negative interest rates and there are bail in laws in place I for one an't putting any store of excess labor in the hands of the enemy .When this store of excess labor is stored in paper assets of any form there is a larger chance every day it could be replaced with a IOU from TPTB .
At some point the saying if you don't have it in hand you don't own it might just be a good rule to of followed .
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Post by whereiwant2b on Nov 29, 2015 16:39:01 GMT
Maybe it's a thing fraught with negative possibilities but since everyone from the property tax people to car dealers want that fiat currency, it is not possible to be active in society without it. You can't barter a tuition bill. But you can minimize the tax bite.
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Post by Ozarks Tom on Nov 29, 2015 16:52:56 GMT
Looking at it from a purely pragmatic view, if the 529 money were to disappear, there most likely wouldn't be a school to send them to anyway. If you've got faith things will continue more or less as they are, save the taxes and continue adding to the fund.
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Post by sawmilljim on Nov 29, 2015 16:58:28 GMT
Maybe it's a thing fraught with negative possibilities but since everyone from the property tax people to car dealers want that fiat currency, it is not possible to be active in society without it. You can't barter a tuition bill. But you can minimize the tax bite. Correct you can't barter the tuition bill but before it is due one could sell a one oz American Gold Eagle that one had stashed free of the Gov's grasp. A tax bite would be a minor thing compared to having your paper being replaced with a IOU or receiving stock in a defunct bank . Many just never believe it could happen . Neither did those in Greece |
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Post by Jolly on Nov 29, 2015 17:08:44 GMT
Many 529 state accounts feature some form of match for lower income residents...Which is great, except those are the guys with the least amount of disposable income.
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Post by whereiwant2b on Nov 29, 2015 17:14:04 GMT
I don't know if there is total safety in gold either. If the fiat currency fails, then the gold can't be sold for it anyway. The college would have to agree to accept gold directly.
I remember reading a travelog about Argentina and how the pawn shops were full of gold at bargain prices 20 years after the currency failed there. Gold is always going to be worth something but it's not going to keep the same value either. I also remember a point when gold was over $800 per ounce and fell to close to $300 per ounce rather fast.
I think the ability to grow food and make clothes and shelter is the closest thing to safety humans can have.
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Post by sawmilljim on Nov 29, 2015 17:47:04 GMT
I don't know if there is total safety in gold either. If the fiat currency fails, then the gold can't be sold for it anyway. The college would have to agree to accept gold directly. I remember reading a travelog about Argentina and how the pawn shops were full of gold at bargain prices 20 years after the currency failed there. Gold is always going to be worth something but it's not going to keep the same value either. I also remember a point when gold was over $800 per ounce and fell to close to $300 per ounce rather fast. I think the ability to grow food and make clothes and shelter is the closest thing to safety humans can have. Correct =I think the ability to grow food and make clothes and shelter is the closest thing to safety humans can have. The point still stands the gold was still worth something and those that had their money in the bank woke one fine morning to find the Gov. had confiscated all but a small percent of it . Then as in Greece they could only get small amounts of if slowly. Repeating of history might be a harsh master. Weimar Republic The many parallels between 1924 Germany and present-day United States are cause for concern. Though the U.S. has not yet reached the depths to which Germany descended in that era, few can look at the constant depreciation of the dollar since the early 1970's and fail to be alarmed. It seems contemporary America differs from 1924 Germany only in the duration between cause and effect. While the German experience was compressed over a few short years, the effects of the American inflation have been more drawn out. www.usagold.com/germannightmare.html |
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Post by blackfeather on Nov 30, 2015 1:43:54 GMT
I'm probably not the best person to comment on this. I mostly don't think much of going to college. I can see if if your going for engineer or doctor or such. When you see the debt that is accumulated by college students, the current lack of jobs, it seem to me a trade would be better. Then you look at college campuses with diversity training and free zones where your protected from any offense, and all the nonsense going on, I'm not sure if I would want my kids to go to college. Even if you do go, in order to get a good grade you are expected to spit back whatever propaganda the professor teaches no matter how wrong they are. Free thought and speech aren't allowed. Worse some are corrupted by what the professor teaches. My son for example bought into what they taught, "After all dad is just an uneducated farmer compared to these professors." Then he went to work in the real world, "guess dad wasn't so far off after all and that professor didn't have a clue." My daughters refused to go to college.
Having investments in something paper, I guess it is okay if your smart enough to get them out before the dollar goes to heck. I'm not smart enough, so I don't want my money tied up in something where I can't get to it. PM's are a good way to protect your excess wealth, but I know my first priority is to use what little I have to get the things I'll need to be self sufficient.
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Post by gibbsgirl on Nov 30, 2015 13:53:06 GMT
Just more info. 529s can be used for a range of educational stuff, not just college tuition.
Also, accts can be transferred to other beneficiaries, if the kid doesn't need to money.
I agree with banks/money not being guaranteed. We're planning for the worst and hoping for the best, I guess.
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