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Hello
I am mother and having trouble filing out a 529 plan for my son. The application is complicated for me because I do not have any finance experience or knowledge. I am looking for someone to help me out and I prefer them to be affordable, knowledgeable, and honest.
Well, I have been to Holly Nicholson and she is certainly knowledgeable. She is a CFP and also has a law degree. In addition, she has had children in college already so she knows the financial aid process as well. She will see clients fee-only by the hour, but she is not that affordable...she charges $250/hour. But she has other fee schedules as well for portfolio analysis etc. I find that checking in with her once a year is adequate for our needs. Best to have your agenda all lined up with your questions/concerns so as not to waste time.
If you just need help filling out a 529 plan, maybe you should just find a friend who has already done it, instead of paying someone.
I don't know where you are but you can go to the Fidelity Investment center near Southpoint Mall. They can set up your 529 and as far as I know they don't charge anything. I have had accounts with them for years and just recently went in to get everything 'analyzed'. The rep helped me adjust my investments and it didn't cost me a thing. Her name was Molly Barrett and she was excellent.
7011 Fayetteville Rd, Durham 1800-987-1404
But now that I have said that, It occurs to me that you could probably go into any bank (your own bank) and they will be happy to open a 529 for you. You could easily set that up to have automatic monthly deposits from your checking to your 529 if you want. Let them do the work!
Congratulations to you for making college savings a priority!
I would also recommend you visit Bogleheads.org forum. You can signup for free and get advice for free. I have used them on multiple occassions. It is similiar to this forum but has many professional folks that just like to help folks out. Might be another option you can take to save costs. I have used them when dealing with my own asset allocation questions and other retirement questions.
I assume you are setting up the 529 in NC? If so, I would just call CFNC and have them walk you through it since they are the plan sponsor for NC. What kind of questions do you have? Are you trying to decide the best investment option? If you can't decide and you aren't knowledgable about investing I would probably just go with the age based option as it will automatically reallocate as your child approaches college.
I don't know where you are but you can go to the Fidelity Investment center near Southpoint Mall. They can set up your 529 and as far as I know they don't charge anything. I have had accounts with them for years and just recently went in to get everything 'analyzed'. The rep helped me adjust my investments and it didn't cost me a thing. Her name was Molly Barrett and she was excellent.
7011 Fayetteville Rd, Durham 1800-987-1404
But now that I have said that, It occurs to me that you could probably go into any bank (your own bank) and they will be happy to open a 529 for you. You could easily set that up to have automatic monthly deposits from your checking to your 529 if you want. Let them do the work!
Congratulations to you for making college savings a priority!
Just FYI - the people who are work at the Fidelity Investment Center are all salaried and do not work on commission. Just a good thing to know. :-)
Hello
I am mother and having trouble filing out a 529 plan for my son. The application is complicated for me because I do not have any finance experience or knowledge. I am looking for someone to help me out and I prefer them to be affordable, knowledgeable, and honest.
Note his first point - you need to save for retirement before saving for college, so make sure that is in place.
NC gives you a tax deduction if you pick an NC plan. If you want to keep it simple, just go with one of the Vanguard age based plans.
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