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HeathKernandez
Our Ron is an awesome Ron
Member since 4/07 9091 total posts
Name:
baby fish mouth
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529 College Savings
Can someone PLEASE explain this to me (in dummy terms) how it works?
It seems as though I have less money in his account than I have put in...
due to the cr@p that is our economy...
I don't understand how this is benefitial..
I know NOTHING about finances.. other than how credit cards work and balancing my checkbook.
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Posted 7/23/08 1:20 PM  |
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naliMCA
LIF Zygote
Member since 7/08 14 total posts
Name:
Jack
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Re: 529 College Savings
It IS possible, due to the slumping economy, that your account may have declined in value, depending upon what types of investments the Plan was putting its money in.
How 529 Plans work
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| Posted 7/23/08 1:44 PM |
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Reese1106
Family of 4! :o)
Member since 8/06 6655 total posts
Name:
Theresa
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Re: 529 College Savings
I think because it's a long-term savings strategy (like a 401K) it's going to go up and down with the market. In the end, the thought is the market will turn back in a positive direction and the money will be there when needed for school. The economy is crap now but it won't always be that way. That's why it seems like you have less than you started with. Did you set up the plan through a financial advisor?
Message edited 7/23/2008 1:46:55 PM.
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| Posted 7/23/08 1:44 PM |
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HeathKernandez
Our Ron is an awesome Ron
Member since 4/07 9091 total posts
Name:
baby fish mouth
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Re: 529 College Savings
Posted by naliMCA
It IS possible, due to the slumping economy, that your account may have declined in value, depending upon what types of investments the Plan was putting its money in.
How 529 Plans work
thanks for the link!
yes, it HAS declined in value... I'm wondering whether or not I should continue with this or put the money in a (sigh) savings
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| Posted 7/23/08 2:15 PM |
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curliegirl
He's here!!!!
Member since 3/06 10128 total posts
Name:
Gina
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Re: 529 College Savings
We just got our statement last night, have to look at it....
I know that we decided for now to invest "high risk" so I am assuming there will be times when the balance is lower than what we invested.....
Now I am very curious~
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| Posted 7/23/08 2:45 PM |
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JenBenMen
party of five
Member since 9/06 11343 total posts
Name:
Jen
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Re: 529 College Savings
It is invested in the stocjk market so the actual value is probably less than what you put in.
I have DS in agressive options and we have about 17 years for ups and downs in the market to level off
As he reaches college age I will change it to more conservative investments
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| Posted 7/23/08 2:57 PM |
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melbalalala
Little Lady
Member since 5/07 5014 total posts
Name:
Melissa
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Re: 529 College Savings
Posted by namechange
Posted by naliMCA
It IS possible, due to the slumping economy, that your account may have declined in value, depending upon what types of investments the Plan was putting its money in.
How 529 Plans work
thanks for the link!
yes, it HAS declined in value... I'm wondering whether or not I should continue with this or put the money in a (sigh) savings
Nononon dont dont dont put it in savings. In fact, put MORE in the fund now... this is a really good time to invest in the stock market.. while it's tanking.
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| Posted 7/23/08 3:17 PM |
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MrsBlueSash
Love my sailor
Member since 6/05 5793 total posts
Name:
Christian
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Re: 529 College Savings
Posted by melbalalala
Posted by namechange
Posted by naliMCA
It IS possible, due to the slumping economy, that your account may have declined in value, depending upon what types of investments the Plan was putting its money in.
How 529 Plans work
thanks for the link!
yes, it HAS declined in value... I'm wondering whether or not I should continue with this or put the money in a (sigh) savings
Nononon dont dont dont put it in savings. In fact, put MORE in the fund now... this is a really good time to invest in the stock market.. while it's tanking.
ITA! Buy when the market is down; stocks and funds are cheap, a real value. Because your investment is long term, years down the road you will reap the benefits of your buying power now.
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| Posted 7/23/08 5:21 PM |
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HeathKernandez
Our Ron is an awesome Ron
Member since 4/07 9091 total posts
Name:
baby fish mouth
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Re: 529 College Savings
thanks so much guys!
like I said, I am CLUELESS when it comes to this...
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| Posted 7/23/08 9:34 PM |
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