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529 Plan Comparison Website Can Help You Pick the Right College Savings Plan

Jul 1, 2012

Many people find the decision to save for college with a 529 college savings plan a natural choice to help their children's future. The choice of what plan to choose is quite a more difficult decision.

You can take the easy way out and just pick the plan of the state you reside in or you can take the time and explore other choices that may benefit and increase the return on your investment.

When filing taxes on state returns some 529 plans allow you to take a nice tax deduction. This only works if your state has an income tax, it doesn't work with federal taxes. Pursuing this option sometimes lets you deduct your whole yearly contribution from your income. It's a very good incentive for saving. It's to bad the federal taxation rules do not have this, I can see savings by families increasing to their benefit.

Other factors in deciding which plan to choose is how much are the expenses for the 529 college savings plan. Fees vary as much as 1% between various plans. You may think that is a very small amount but over a period of 18 years of saving it can really add up.

To help you choose the right 529 College Savings Plan I have included a link to a great website that compares plans in a easy way. Side by side you can compare fees, investments, and costs of several plans simultaneously.

529 College Savings Plan Comparison

Got further questions? Catch me on twitter and DM me @529SavingsPlans or e-mail me at 529CollegePlans at Want to be heard? Leave a reader comment below.

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