Utah Vs. New York 529 - Which one and why?

Have a question about your personal investments? No matter how simple or complex, you can ask it here.
Post Reply
PlayingLife
Posts: 239
Joined: Sun Dec 29, 2013 3:10 pm

Utah Vs. New York 529 - Which one and why?

Post by PlayingLife » Mon Mar 20, 2017 6:17 pm

BH's,

We're ready to make our first deposit, to our first child's 529. Our little one is about 1 year old and we live in NJ. I've done a lot of research on the Utah and NY plans and feel one of these would be best. Could you please share your opinion with a little detail?

PlayingLife
Posts: 239
Joined: Sun Dec 29, 2013 3:10 pm

Re: Utah Vs. New York 529 - Which one and why?

Post by PlayingLife » Mon Mar 20, 2017 6:18 pm

Actually sorry..I imagine this should technically be posted under investments.

User avatar
White Coat Investor
Posts: 12741
Joined: Fri Mar 02, 2007 9:11 pm
Location: Greatest Snow On Earth

Re: Utah Vs. New York 529 - Which one and why?

Post by White Coat Investor » Mon Mar 20, 2017 6:23 pm

Utah. Because I get a state tax credit. Plus DFA access.

New York. Because ERs are slightly lower.
1) Invest you must 2) Time is your friend 3) Impulse is your enemy | 4) Basic arithmetic works 5) Stick to simplicity 6) Stay the course

livesoft
Posts: 55935
Joined: Thu Mar 01, 2007 8:00 pm

Re: Utah Vs. New York 529 - Which one and why?

Post by livesoft » Mon Mar 20, 2017 6:32 pm

We had Utah. If you want to track your investments, the Utah plan uses actual Vanguard ticker symbols along with all that entails: You get transactions for reinvested distributions. You get shares removed for any quarterly fees. But you don't have to worry about not being able to look up prices at morningstar.com and other places.

I have not used NY, but I wonder if it is like the Ohio 529 plan: All investments are "wrapped" in a wrapper, so there is not much of a relationship between the prices of the investment options and any actually mutual funds in those investments. Prices are only available by going to the Ohio 529 plan site where prices are not updated until about a day later. So if you want to track things, then you have to realize your account values are always from about a day ago and are never up-to-date.

This seems like a stupid thing, but since the web site is the only way to interact with these plans, they should be judged on that heavily.
This signature message sponsored by sscritic: Learn to fish.

User avatar
LadyGeek
Site Admin
Posts: 39924
Joined: Sat Dec 20, 2008 5:34 pm
Location: Philadelphia
Contact:

Re: Utah Vs. New York 529 - Which one and why?

Post by LadyGeek » Mon Mar 20, 2017 6:41 pm

PlayingLife wrote:Actually sorry..I imagine this should technically be posted under investments.

This thread is now in the Investing - Help with Personal Investments forum (help with personal investments).

(Thanks to the member who reported the post to get our attention. One of the reasons is "Wrong forum".)
To some, the glass is half full. To others, the glass is half empty. To an engineer, it's twice the size it needs to be.

CppCoder
Posts: 508
Joined: Sat Jan 23, 2016 9:16 pm

Re: Utah Vs. New York 529 - Which one and why?

Post by CppCoder » Mon Mar 20, 2017 7:09 pm

livesoft wrote:We had Utah. If you want to track your investments, the Utah plan uses actual Vanguard ticker symbols along with all that entails: You get transactions for reinvested distributions. You get shares removed for any quarterly fees. But you don't have to worry about not being able to look up prices at morningstar.com and other places.

I have not used NY, but I wonder if it is like the Ohio 529 plan: All investments are "wrapped" in a wrapper, so there is not much of a relationship between the prices of the investment options and any actually mutual funds in those investments. Prices are only available by going to the Ohio 529 plan site where prices are not updated until about a day later. So if you want to track things, then you have to realize your account values are always from about a day ago and are never up-to-date.

This seems like a stupid thing, but since the web site is the only way to interact with these plans, they should be judged on that heavily.


I use the NY plan. It is easy (doubt Utah is hard) and has a low expense ratio. Yes, all the investments are wrapped in an underlying trust, so you can only track your performance on their website. That said, they tell you what percentage of each wrapped Vanguard fund lies within each portfolio, so you could track performance pretty trivially if you cared about relative performance only and not share price.

OP: If you like Utah and NY, another to consider is Nevada.

User avatar
Peter Foley
Posts: 4004
Joined: Fri Nov 23, 2007 10:34 am
Location: Lake Wobegon

Re: Utah Vs. New York 529 - Which one and why?

Post by Peter Foley » Mon Mar 20, 2017 7:18 pm

I did the research about 4 years ago and settled on New York for our grandchildren. If I recall correctly, I believe I liked their investment options better. Both were highly recommended at the time.

HoboKent
Posts: 27
Joined: Sat Jun 11, 2016 8:47 am

Re: Utah Vs. New York 529 - Which one and why?

Post by HoboKent » Mon Mar 20, 2017 7:37 pm

We've been saving with the NY 529 for about three years now. It just so happens that we pay tax in NY which made it an easy decision but so far I've been very satisfied. The funds have low ERs. The web dashboard is basic but has everything you need. I would recommend it.

Bogel0048
Posts: 121
Joined: Thu Sep 22, 2016 7:30 pm

Re: Utah Vs. New York 529 - Which one and why?

Post by Bogel0048 » Mon Mar 20, 2017 7:43 pm

We used Nevada's Vanguard 529 because we could choose Vanguard funds and the account shows up as part of our overall account at Vanguard. Also, I thought the ERs seemed as low or lower than other 529s, but we may have missed something favorable about Utah or New York.

indexlover
Posts: 52
Joined: Mon May 11, 2015 10:39 am

Re: Utah Vs. New York 529 - Which one and why?

Post by indexlover » Mon Mar 20, 2017 8:10 pm

Utah.
1) Vanguard funds
2) Morningstar Gold rated plan 2015 , 2016 ( NY is Silver)
3) Very friendly Customer Reps - Will explain anything and everything patiently.

avalpert
Posts: 5683
Joined: Sat Mar 22, 2008 4:58 pm

Re: Utah Vs. New York 529 - Which one and why?

Post by avalpert » Mon Mar 20, 2017 8:19 pm

I use Utah because it was a good fit for my desired allocation and a good price - what is your desired allocation? You shouldn't pick one based on what works for others you have to figure out what works for you.

mikejomike
Posts: 56
Joined: Tue Feb 28, 2017 9:49 am

Re: Utah Vs. New York 529 - Which one and why?

Post by mikejomike » Mon Mar 20, 2017 8:21 pm

We have Utah. If you use the age based investment, they put you in VITPX (VG Total Market) with a .02 ER. I can get a state tax deduction for a 529 in any state, and I chose Utah. It's consistently rated very high.

TheGipper
Posts: 263
Joined: Fri Jun 26, 2015 9:52 am

Re: Utah Vs. New York 529 - Which one and why?

Post by TheGipper » Mon Mar 20, 2017 8:30 pm

UT and NY both excellent, #2 and #3 in my book.

Check out MA, edges out as #1 in my book if use the Index funds, as Fidelity index fund and overall plan ER are now lower than NY. Great customer service and ease of withdrawal with Fido as well.

Bfwolf
Posts: 1584
Joined: Thu Oct 14, 2010 11:19 am

Re: Utah Vs. New York 529 - Which one and why?

Post by Bfwolf » Mon Mar 20, 2017 8:35 pm

I'd say you've already thought too much about it. They're both excellent 529s, and it's splitting hairs to try and select one as better than the other.

PlayingLife
Posts: 239
Joined: Sun Dec 29, 2013 3:10 pm

Re: Utah Vs. New York 529 - Which one and why?

Post by PlayingLife » Mon Mar 20, 2017 9:27 pm

Thanks everyone! I actually agree fully with the last post...I think either are fine options. Leaning towards NY but again, either sounds fine. Thanks for your help BH's, case closed.

TLC1957
Posts: 19
Joined: Sat Mar 18, 2017 7:49 am
Location: Pa

Re: Utah Vs. New York 529 - Which one and why?

Post by TLC1957 » Mon Mar 20, 2017 10:33 pm

We used Utah with my youngest graduating in 2014. They were very easy to communicate with, a human actually answered the phone whenever we called! They were very helpful in the questions we had. The payment process for tuition was flawless with my 2 kids, not a problem for 8 years of college payments. What they said they would do they did with no follow up calls needed, very professional in all the dealings we had with them.

User avatar
WallStreetPhysician
Posts: 94
Joined: Tue Jan 17, 2017 12:09 pm
Contact:

Re: Utah Vs. New York 529 - Which one and why?

Post by WallStreetPhysician » Tue Mar 21, 2017 9:55 am

PlayingLife wrote:BH's,

We're ready to make our first deposit, to our first child's 529. Our little one is about 1 year old and we live in NJ. I've done a lot of research on the Utah and NY plans and feel one of these would be best. Could you please share your opinion with a little detail?


As WCI mentioned, NY has slightly lower expense ratios. Also, if there's a possibility that you may move to New York in the future, it would be convenient to already have a New York 529.

-WallStreetPhysician

feh
Posts: 1100
Joined: Sat Dec 15, 2012 11:39 am

Re: Utah Vs. New York 529 - Which one and why?

Post by feh » Tue Mar 21, 2017 11:48 am

We had to make this choice about 12 years ago and went w/ Utah. Have no idea how they would compare today.

User avatar
Kosmo
Posts: 1277
Joined: Wed Sep 05, 2012 11:54 am
Location: Philadelphia

Re: Utah Vs. New York 529 - Which one and why?

Post by Kosmo » Tue Mar 21, 2017 11:53 am

Peter Foley wrote:I did the research about 4 years ago and settled on New York for our grandchildren. If I recall correctly, I believe I liked their investment options better. Both were highly recommended at the time.

I did the exact same thing in the same time frame for my kids. Decided on NY.

Since then PA has improved their program, so if I were to make the decision now, it might be different.

Post Reply