529 plan - which institution.

[aim-high]

Hi,
My son is 3.5 years and both my wife and I are working. We live in California and want to start 529k plan for my son. We have invested our money in the following institutions.
1) Rolled over 401k into IRA and invested in Vanguard.
2) Rolled over my wife's 401k into IRA and invested in Charles schwab.
3) Have my current 401k in Fidelity.
4) Invested Roth IRA in Vanguard both for my wife and myself.

In addition, we have few savings. My question is , Is there an advantage in opening my 529k so my those funds will get invested in an institution other than the above institutions so there is more diversification. Is there a particular disadvantage in opening a california 529 as apposed to other states ?
We plan to settle in california and might send him for college anywhere in the country.

Thanks

[autoxer]

Hi,
My son is 3.5 years and both my wife and I are working. We live in California and want to start 529k plan for my son. We have invested our money in the following institutions.
1) Rolled over 401k into IRA and invested in Vanguard.
2) Rolled over my wife's 401k into IRA and invested in Charles schwab.
3) Have my current 401k in Fidelity.
4) Invested Roth IRA in Vanguard both for my wife and myself.

In addition, we have few savings. My question is , Is there an advantage in opening my 529k so my those funds will get invested in an institution other than the above institutions so there is more diversification. Is there a particular disadvantage in opening a california 529 as apposed to other states ?
We plan to settle in california and might send him for college anywhere in the country.

Thanks

I don't believe there is any benefit to diversifying investments across different brokers, actually the opposite, the more I can consolidate, the simpler my financial life is.

Does california offer tax benefits if you use another state's 529 plan? Although I'm in PA, I use a nevada 529 (vanguard), because the fees are lower.

[aim-high]

Looks like california does not

http://www.nerdwallet.com/finance/question/what-are-tax-advantages-of-california-529-plans-556

Let me look into nevada 529. thanks.

[feh]

Looks like california does not

http://www.nerdwallet.com/finance/question/what-are-tax-advantages-of-california-529-plans-556

Let me look into nevada 529. thanks.

Utah's is also highly regarded (also Vanguard).

uesp.org

[snafu]

...off topic
While I'm very much supportive of regular contributions to children's higher education fund, I've just been reading about the changes being suggested for under grad course work. It seems there is a world-wide study currently being conducted to ascertain and obtain some level of co operation for courses delivered electronically so that students from all all over the world can take math and science courses from MIT, study economics from the London School of Economics, improve their French language skills at Sorbonne etc. all while living at home or where ever. It should lower costs dramatically and pull up scores if students are taught by the best.

The barrier I see is the world-wide competition for 'seats' [admission] to each program. there's always someone with higher qualifications and better writing skills.

[feh]

...off topic
While I'm very much supportive of regular contributions to children's higher education fund, I've just been reading about the changes being suggested for under grad course work. It seems there is a world-wide study currently being conducted to ascertain and obtain some level of co operation for courses delivered electronically so that students from all all over the world can take math and science courses from MIT, study economics from the London School of Economics, improve their French language skills at Sorbonne etc. all while living at home or where ever. It should lower costs dramatically and pull up scores if students are taught by the best.

The barrier I see is the world-wide competition for 'seats' [admission] to each program. there's always someone with higher qualifications and better writing skills.

Not really off topic, IMO.

I agree that there is a sea change coming in post-secondary education. Information is becoming free and ubiquitous, and can be accessed electronically. The rate of the cost increase is making college unaffordable for more and more people. Market forces are going to come to bear.

Ten or 15 years from now, the traditional college experience may be a thing of the past.