We had our first baby this year and my wife and I were in a place financially to start a college savings account for the little one. We asked our financial advisor to look into the tax savings (we are in IA, state tax benefit) from a 529 and help us pick an account to open. They provided paperwork and all was good...until I tried to log in. Turns out there are 2 different Iowa 529 plans, one with Voya that has a massive load fee and ER (the one we are in, IAdvisor 529) and another with Vanguard that has no load fee and a very modest ER (College Savings Iowa 529). I was trying to log in to the wrong one when I figured out there are actually 2 options. Thought I would post as a warning to anyone considering opening a 529 through an advisor to pay attention to those damn fees.
Submitted December 14, 2018 at 11:24AM by MapperScrapper https://ift.tt/2QOheTy
