Any guidance on starting a college fund for my newborn?
Wife is pregnant. I'm planning to check if Fidelity has 529 plans and open one up as soon as I can. Thinking of just contributing to their S&P 500 index fund FXIAX. I'm going with Fidelity because their expense ratio seems dirt cheap at 0.015%
If Fidelity doesn't have 529 plans then I'll check with Vanguard.
I currently max out my 401k and Roth IRA, and do automatic $500/mo investments to a taxable brokerage account. Figured the smartest thing I could do is shift the $500/mo contributions to a 529 plan to save on taxes there as well. And figure the earlier I do this, the better.
Does my plan sound good? I'm open to other suggestions as well!
Submitted October 10, 2021 at 06:25AM by optimisticmillennial https://ift.tt/2YtXGt3
