September 15, 2006 8:27 AM
Best 529 Plans
Wondering how to choose from the dozens of 529 plans available in the market? Kiplinger picked the following four plans as the best of the pck.
From Saving for College:
College Savings Iowa. A low-cost plan with four age-based "tracks" and eight fixed investment choices that blend various Vanguard index funds. Performance has been above average over the past three years. Arkansas, Colorado, Nevada, New York, Ohio and Utah offer similar Vanguard plans.
Michigan Education Savings Program. Very similar to the Minnesota plan below and 14 other plans run by TIAA-CREF. Expenses are low and investment choices are simple: one age-based series of portfolios, a 100%-stock portfolio, or a guaranteed fixed-rate portfolio with a minimum return of 3%.
Minnesota College Savings Plan. Same investing options as the Michigan plan. Performance in all the selections has been solidly above average over the past three years.
Virginia's College America. Our top choice among advisor-sold plans. No age-based portfolios. Your advisor can help you tailor your own mix from 21 American funds. Total expenses in most of the stock funds are about 1.6% (for C shares).
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