Hudson Valley Nesties
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Note: This only affects The Nest's community members and will not affect members on The Bump or The Knot.
Our tech team has launched updates to The Nest today. As a result of these updates, members of the Nest Community will need to change their password in order to continue participating in the community. In addition, The Nest community member's avatars will be replaced with generic default avatars. If you wish to revert to your original avatar, you will need to re-upload it via The Nest.
If you have questions about this, please email help@theknot.com.
Thank you.
Note: This only affects The Nest's community members and will not affect members on The Bump or The Knot.
529 college savings question
we set up Mj's 529 college savings account the other day. When I set it up we arranged the money to be invested in the age growth. we did 60% aggressive, 30% moderate and 10% conservative. My mom said we should've put 100% in aggressive since we have sometime until Mj goes to college.
I was curious to see what anyone else did.
Also if you have the upromise have you had any issues with it?
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Re: 529 college savings question
We are setting up the 529 plan after T gets baptised next month, and my H said he wants to go 100% aggressive. He works in the financial world so he said that this would be best for the same reason, she is so young.
The thing about if she doesn't go to college and having a penalty didn't concern us bc you can use the money for any child it doesn't have to be the one you set it up for. As long as it is being used towards education it doesn't matter and we hope to have more children and hope at least one goes to college.
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We didn't do it for the same reason. There were a few other reason's but I can't think of them right now. We just have a plain ole savings account in her name.
We have one. My brother and father are Financial Advisors/Investors, they handle it. My mom pays into it for now for Jack.
As far as penalties they are only if you take it out early/not for college.
Basically child can get it for college or TRADE schools. Transfer it to another child OR take out PENALTY FREE at age 30 (wedding money/down payment on house??) So it does make sense and earns more than a savings account.
I know Jack's has more than doubled and it was opened Sept 2010.