Is Fidelity 529 a good plan?

Is Fidelity 529 a good plan?

The Fidelity 529 plans offer a decent variety of choices among pre-built portfolios and customization, but the plan’s portfolio construction could be a concern for some. Arizona is a tax parity state, so residents can get the tax benefits no matter which state plan they invest in.

Can you lose all your money in a 529 plan?

You don’t lose unused money in a 529 plan. The money can still be used for post-secondary education, for another beneficiary who is a qualified family member such as younger siblings, nieces, nephews, or grandchildren, or even for yourself.

Which state has the best 529 plan?

Utah — The first state located outside of the Midwest , Utah consistently ranks as one of the best states for 529 Plans. That’s partly because the state handles the investments itself, rather than outsourcing fund management.

What counts as a qualified expense for a 529 plan?

529 qualified expenses Tuition: For full time and part-time students at an accredited institution. Room and board: On-campus dormitory room and board is a qualified expense. Fees: All fees, such as administration, lab and technology fees required by the school, are an eligible expense. Books and supplies: So long as they are required, these are qualified expenses.

What are the 529 college funding plans?

A 529 plan is a college savings plan that offers tax and financial aid benefits. 529 plans may also be used to save and invest for K-12 tuition in addition to college costs. There are two types of 529 plans: college savings plans and prepaid tuition plans. Almost every state has at least one 529 plan.

What are the advantages of 529 college savings plan-?

Among the chief benefits of 529 plans are tax-deferred growth and tax-free withdrawals when savings are used for qualified education expenses. These plans also offer more generous annual contribution limits for savers.

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