Author Topic: CHET 592 Plan (Connecticut state plan)  (Read 320 times)

Sweetpotatofries

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CHET 592 Plan (Connecticut state plan)
« on: October 09, 2017, 01:12:42 PM »
Hubby and I are looking to open a 529 plan in Connecticut for our new baby. We think the age-based investments are too high-feed, given our taxable investments are all in VTSAX and the international fund. The lowest-fee option is the US Equity Index Option, which is a total investment in TIAA-CREF Equity Index Fund Institutional Class. Is this a worthwhile option in the eyes of other MMM'ers?

ChiefMomOfficer

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Re: CHET 592 Plan (Connecticut state plan)
« Reply #1 on: October 15, 2017, 04:13:58 AM »
Hi, I live in CT and have the CHET Allan. Agree the options aren't the best. The main good things about the plan are (1) the tax deduction and (2) the CHET "baby scholars" program where they give you free money for opening/contributing to an account when your child is a baby. The equity index is a good one. You can also contribute to the CHET plan to get the tax deduction and later roll it out into a Vanguard plan. There is no income tax recapture.
Mother of three boys, breadwinner & sole income earner with a stay at home dad husband. Writes at www.chiefmomofficer.org

Poundwise

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Re: CHET 592 Plan (Connecticut state plan)
« Reply #2 on: October 16, 2017, 08:48:10 AM »
Do it soon and get $100 for your baby scholar! https://www.aboutchet.com/buzz/baby.shtml