College Savings Account

529s similar to 401k's use pretax dollars, however on use they are not taxed upon use.

What is your tax rate?

>>964927

Dont get a 529 you retard. What if your son goes to college in another state or decides not to go? Put your money in an IUL and overfund it

>>964927
Fuck your son over. Tell that fuck boi to get scholarships and take our student loans in his name only. Make him work and appreciate not getting a hand out

>>966259
Seriously, I went to state college without the help of my parents; it isn't that hard.

>>966259
>things poor people do

>>966256
It still works for out of state, it is also transferable to other people.

>>964927
My son is one yo, I was looking into this too but where I'm at now I am not using any tax sheltered account. I would rather have my money more liquid in the case he doesn't go to school, goes to school internationally that is not allowed, or if government regulation change, or if he get free schooling.

There are some quantifiable tax benefits of you do the 529. I just would rather have my money free and invest in other things.

>>964927
I didn´t go to college and wasted it all on drugs in 1.5 year kek

>>966272
my state college is 10k a year for tuition. Now you can add on housing, food, supplies and your expenses are even more. That would be a huge waste for a college student to work some relatively lower wages job when the opportunity cost is studying harder, getting involved in extra curriculars, being social and networking. Not saying it is impossible, just not the best idea.

Don't. If the little faggot isn't smart enough to get a scholarship, he shouldn't be in college.

>>966397
This. But it's still nice to have a trust.

>>966256
>IUL
What's with all the retards recommending shitty insurance products today?

>>965896
Thanks wikipedia. Why are you here again?

>>966397
>Non-white who got diversity scholarships handed to him spotted.