I wanted to open a 529 for my toddler. I am not sure if it is better to open a NJ account (I am resident) or a NY account (has Vanguard options).
- seems to have 10k state deduction
- plan users Franklin Templeton and has higher fees and limited funds (the SP500 fund looks to be 0.54)
- has a 10k limit per year for beneficiary to spend for K-12; does not apply for college costs (same as NY)
- allows all colleges outside of state and some abroad (same as NY)
- NJ Benefits - https://www.njbest.com/njbest/why-njbes ... gJ6UfD_BwE
- Franklin Templeton Funds - https://www.franklintempleton.com/inves ... portfolios
- no deductions
- has Vanguard funds
- has a charge of 0.12% for all plans (maybe choose plans Mid-Cap Stock Index Portfolio or the Aggressive Growth Portfolio plan?). If you suggest the NY plan, which fund would you choose?
- NY Benefits - https://www.nysaves.org/home/which-inve ... mance.html
- Available Funds - https://www.nysaves.org/home/which-inve ... mance.html
Appreciate any advice to help decide if the NJ or NY 529 would be better. If NY, which fund would you choose? Thanks in advance!