I currently have 529 for each kid. 2 kids, middle school. ~50k/each. I only started it a few years prior and my accountant told me he would "take care of everything." I have VCSP/COLLEGEAMERICA (529 American growth portofolio class C). It has gross expense ration 1.65%.
I just did the math with my 10 year old. I'm hoping to teach her about finance as I am learning myself. By the time she starts college, even without me putting any additional money in the 529, she will be down $10k. i.e. @ 1.65% gross expense ratio and calculating 8% return, 80k principal in the brokerage account vs ~90k if I put in a low cost 0.2%.
I think I did the math correctly; by hand as opposed to looking up a calculator.
Thus, I want to roll over the money out of my accountant's management and put into a vanguard nevada 529. I think that is the best reading on this forum.
How do I roll over? Do I have to contact my accountant directly or can I do it myself?
Did I understand correctly that NV vanguard is the way to go since I am a california native?
I just did the math with my 10 year old. I'm hoping to teach her about finance as I am learning myself. By the time she starts college, even without me putting any additional money in the 529, she will be down $10k. i.e. @ 1.65% gross expense ratio and calculating 8% return, 80k principal in the brokerage account vs ~90k if I put in a low cost 0.2%.
I think I did the math correctly; by hand as opposed to looking up a calculator.
Thus, I want to roll over the money out of my accountant's management and put into a vanguard nevada 529. I think that is the best reading on this forum.
How do I roll over? Do I have to contact my accountant directly or can I do it myself?
Did I understand correctly that NV vanguard is the way to go since I am a california native?
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