- The Finance Gourmet

CollegeInvest 529 Plan Fees Reduced

September 29, 2021 by Finance Gourmet

It’s always nice to get good news. CollegeInvest 529 Reduces Feeds for Direct Portfolio According to a recent release from CollegeInvest CEO Angela Baier, the administrative fee for the CollegeInvest Direct Portfolio was reduced from 0.32% to 0.31% on August 1, 2021. That means more of those college savings dollars stay in your 529 account, and less go to expenses. Remember, this only applies to the Direct Portfolio at CollegeInvest and not the CollegeInvest Scholars Choice, Smart Choice, or Stable Value Plus plans. A word about the Direct Portfolio at CollegeInvest Either the folks who started up CollegeInvest didn’t consult anyone with any knowledge about investing and marketing, or they DID consult someone, and that someone was working for the investment industry more than they were for the people of Colorado. Either way, the resulting Colorado 529 plan system ended up being a bit of a confusing mess for Coloradoans looking to invest money for college. So, CollegeInvest is the overall umbrella for all Colorado 529 plans. Colorado has four 529 plans. So, to access your 529 account online you go through a CollegeInvest login at collegeinveset.com. Once you get to CollegeInvest online there are FOUR different Colorado 529 plan …

529 Contribution Limits 2021

September 29, 2021May 3, 2021 by Finance Gourmet

The 529 plan is a tax-advantaged college savings plan. Of course, like all plans that offer IRS sanctioned tax savings, there are rules and regulations regarding just how and when a 529 plan may be used. One of these limitations involves how much money you can contribute to a 529 plan in 2021. 529 contribution limits tend to be pretty stable, based mostly on the federal gift tax exclusion amount. Head over here if you are looking for how a 529 plan works. If you want to know how to open a 529 plan account then head here. 2021 529 Contribution Limits Unlike IRA plans, where there are new IRA contribution limits, or other child tax credits, there are no income limits for 529 plans. That means that you can contribute to a 529 plan regardless of whether you are a high-income taxpayer or not. There are, however, still a few kinds of contribution limitations for 529 savings accounts that you want to be aware of. The first 529 plan contribution limit comes from the 529 plan rules established by each individual plan. Since 529 plans are administered by each of the 50 states, there can be 50 different plan rules. For …