Bank Deal: Earn 1.00% APY on an FDIC-insured savings account at Barclays Bank.
As a complement to this morning’s post on the best 529 plans, here’s a list of the worst 529 plans, once again courtesy of Consumer Reports. Without exception, these funds have to be purchased through a broker or financial advisor, which translates into significantly higher fees and correspondingly worse performance.
The five worst 529 plans
- Tomorrow’s Scholar (Wisconsin; Wells Fargo)
- John Hancock Freedom 529 (Alaska; T. Rowe Price)
- Franklin Templeton 529 College Saving (New Jersey; Franklin Templeton)
- Columbia New York Advisor 529 Plan (New York; UPromise/Columbia Management)
- Columbia 529 Plan (Nevada; Columbia Management)
Is your state on the list?
The good news for those that live in one of the states listed above is that most states offer multiple plans. Hopefully you’ll be able to find something more acceptable. If not, you may want to look outside your state. Yes, you’ll be giving up any possible state income tax breaks by doing this, but that’s probably a better option than putting your money into a bad plan.
- How to Become a Millionaire
- How to Get Out of Debt
- The Best Dollars I've Ever Spent
- How Our Estate Plan is Structured
- How We Paid Our Mortgage In Less than 10 Years
- Money Making Ideas
- How to Manage Your Asset Allocation with Multiple Accounts
- Consumption Smoothing - Save While the Saving's Good
- How to Save on Groceries
- How Much Life Insurance Do You Need?
- Eleven Great Books About Money
- Dave Ramsey is Bad at Math (693)
- Dish Network Customer Service SUCKS (536)
- $8,000 Homebuyer Tax Credit (429)
- Pay Off Mortgage Early or Invest? (424)
- How to Claim the First-Time Homebuyer Tax Credit (352)
- Termite Control: Sentricon vs. Termidor (329)
- How Much Should You Pay a Babysitter? (288)
- Ethanol Blended Gas = Lower Mileage? (272)
- Reduced Credit Limits? Share Your Experience (256)
- $15,000 Homebuyer Tax Credit (242)
- Buying Furniture off the Back of a Truck (237)
- Will Mac OS X Lion Kill Quicken 2007? (191)