benefits to switch from the Washington GET program to 529 Dream Ahead

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arcticpineapplecorp.
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Joined: Tue Mar 06, 2012 9:22 pm

benefits to switch from the Washington GET program to 529 Dream Ahead

Post by arcticpineapplecorp. » Sat Jun 23, 2018 3:26 pm

just heard about this and didn't see it posted here. If so, feel free to merge. For those in Washington who participated in the GET program (purchased units prior to July 2015), you can exchange your units (through Sept 12, 2018) which are valued at $104 each for $143 each to the Washington 529 Dream Ahead program. That's a 37.5% gain in value! Here's some more information at Merriman to consider whether switching from the GET to the 529 Dream Ahead is worth it (there are things to consider):

http://www.merriman.com/wealth-enhancem ... f-89829697
"Invest we must." -- Jack Bogle | “The purpose of investing is not to simply optimise returns and make yourself rich. The purpose is not to die poor.” -- William Bernstein

2pedals
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Joined: Wed Dec 31, 2014 12:31 pm

Re: benefits to switch from the Washington GET program to 529 Dream Ahead

Post by 2pedals » Sun Jun 24, 2018 10:52 am

Interesting, thanks for sharing

HeartinAK
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Joined: Fri Oct 21, 2016 12:54 pm

Re: benefits to switch from the Washington GET program to 529 Dream Ahead

Post by HeartinAK » Sun Jun 24, 2018 12:33 pm

I have one that will graduate in 2020 and am trying to figure this out as well.
Jules

SunnySeattle
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Joined: Mon Nov 04, 2013 12:17 pm
Location: Seattle

Re: benefits to switch from the Washington GET program to 529 Dream Ahead

Post by SunnySeattle » Thu Aug 09, 2018 3:37 pm

We rolled our kids' GET units from their old accts over to the new Dream Ahead 529 (deadline for requesting the $143 rollover is September 12, 2018). We are also considering purchasing new GET units at $113 into new GET accounts for the kids (deadline to purchase new units at $113 is Oct 31, 2018). One interesting thing about 529 funds is that they can be used for private k-12 school tuition, in addition to college and university tuition and fees. GET units are only available for college/university.

cmwahl
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Joined: Sat Jan 03, 2015 6:47 pm
Location: Spokane, WA

Re: benefits to switch from the Washington GET program to 529 Dream Ahead

Post by cmwahl » Thu Aug 09, 2018 3:53 pm

We just completed the rollover from the GET to Dreamahead. One child is using the units and the next will begin next year. At the rollover rate currently offered, its free money. We put the money in cash preservation since our use is so close. If we end up not using it all we will change that allocation. The GET program has been awesome for us. We started at $38 per unit and purchased 4 1/2 years per child then. I would reinvest again with GET. I will probably roll both Dream Ahead accounts over to Vanguard next year as the Dreamahead fees are much higher than Vanguards 529 Nevada plan.

RKS2000
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Joined: Sun Sep 02, 2007 5:48 am

Re: benefits to switch from the Washington GET program to 529 Dream Ahead

Post by RKS2000 » Sun Aug 12, 2018 11:24 am

I took the refund option in May 2016, got the payout of $117 and rolled over the amount to Vanguard 529.
37.5% looks like a very good return over this period for folks that chose to wait instead (and didn't bother with the hassle of getting the refund check and rolling this over, this was painful -- they gave just one check for the three accounts I had with GET).

For folks looking to invest in GET again, what would be the motivation -- is it the state backed guarantee that makes it useful. The unit price increase will match the most expensive public university in the state, but looks like the increases to this tuition also capped by state law.

jakepeters
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Joined: Tue Mar 16, 2010 3:59 pm

Re: benefits to switch from the Washington GET program to 529 Dream Ahead

Post by jakepeters » Sun Aug 12, 2018 1:07 pm

Yes, it looks like the increases are capped, but I didn't see anything in the law about how long this situation would remain (or, at least, how quickly the legislature could change its mind about their commitment to lower increases in state tuition).

I was trying to see if there was any info that could help me understand the risk of converting to DreamAhead for kids that are, say, 6-8+ years for entering college.

JP

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