It' s harder for me to look at my 529 balance than my 401 k because I have a high school junior Here' s some advice for parents on a similar timeline Article_Opinion - College HEAD TOPICS

It' s harder for me to look at my 529 balance than my 401 k because I have a high school junior Here' s some advice for parents on a similar timeline

10/22/2022 4:29:00 PM

If you' ve been saving for a child since birth they' re now enduring their second major economic crisis at the finish line of high school

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After seeing her 529 balance down 17.5% since last year as the parent of a high school junior, columnist bethpinsker talked to some experts to see what you should do if you are in her shoes. If you've been saving for a child since birth, they're now enduring their second major economic crisis at the finish line of high school. Early losses and late losses are hard on investment accounts, but with college on a fixed timeline, unlike retirement that is further away and could be delayed, it’s hard to get around when the bills will be due. We’re starting college visits and I’m just a year or so away from having to put down a deposit. In the meantime, both U.S. stocks DJIA, +2.47% and bonds TMUBMUSD10Y, 4.228% are down, and there’s no known timeline for economic recovery. So what is the best way to maximize my savings, starting now? I talked to some experts to see what parents like me should do.Get more conservative While families saving for high school juniors don’t have college bills just yet, it’s time to start the goal-line offense, especially if your funds are in equities. Things could get better before that first tuition bill is due, or by the time today’s high schoolers graduate from college — or not. Read more:
MarketWatch » San Antonio child psychologist remained under contract with CPS for 2 months after child sex abuse arrest Federal oversight of N.J.’s child welfare system won’t end until lawmakers act, child advocate says Students in Texas are being sent home with child ID kits Joe Coscarelli Eats Like an Unruly Child

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SAN DIEGO (KUSI) – The CDC voted in mid-October to recommend the COVID-19 Vaccine as a part of the recommended immunization schedule for kids. It is not yet required for children, however the committee emphasized that this vote is just a step in that direction. Currently, roughly a third of school aged children have been vaccinated against the virus. KUSI’s... Read more >> San Antonio child psychologist remained under contract with CPS for 2 months after child sex abuse arrestA San Antonio child psychologist arrested on a child sex abuse charge in August remained under contract with Child Protective Services until this week, state records obtained Friday by KSAT show. Federal oversight of N.J.’s child welfare system won’t end until lawmakers act, child advocate saysEnding court oversight hinges on the enactment of a law creating a state monitoring panel which hasn't passed yet Students in Texas are being sent home with child ID kitsThe timing of the kits' distribution comes just four months after the Robb Elementary School shooting in Uvalde, Texas, which resulted in the deaths of 19 students and two teachers. Don’t do it! Don’t give the government your DNA. Once they have it they’ll use it any way they want. Texas needs better leadership! GOP cowardice, writ large Joe Coscarelli Eats Like an Unruly Child'I get into a bag of alternative Cheetos (Mexican street corn, an inspired idea) that I bought during Whole30 as a distant reward for a moment just like this.' Read joecoscarelli's GrubStreetDiet These Gifts Will Make You Your Mom's Favorite ChildWe're sure your mom will appreciate anything with a Gucci label on it, but this lipstick set will definitely be the crowd-pleaser 💄 [Self-Test] Could My Child Be Addicted to the Internet?Social media addiction and Internet addiction are not official diagnoses, but this self-test is designed to flag problematic and risky Internet use among adolescents. As the parent of a high school junior, I feel like the unluckiest college saver.Dr.Nicholas Scutari , D-Union, has not moved.MORE: If your child goes missing in public remember this 1 viral tip The TEA confirmed to"Good Morning America" that the state agency provided funding to The Safety Blitz Foundation to work with the state's 20 educational service centers to distribute the child ID kits through school districts and that the initiative first began in the fall of 2021. I’m close to tuition bills coming, which is not a good time for our portfolio balance to be down 17.5% since last year — even in an age-based investment fund that’s pretty conservative by now. 24. To boot, this is something of a double-whammy, because I started saving in 2007 and the account took a beating right off the bat with the 2008-2009 financial crisis. It’s unclear how the Legislature’s delay will interfere with the state’s intended timeline. Early losses and late losses are hard on investment accounts, but with college on a fixed timeline, unlike retirement that is further away and could be delayed, it’s hard to get around when the bills will be due. 19 — the day after KSAT reported the arrest. We’re starting college visits and I’m just a year or so away from having to put down a deposit. The kits have been for at least two decades and are a program the American Football Coaches Association founded back in 1997. In the meantime, both U. “The information found during Timothy Kimball’s background check currently constitutes a bar from working with DFPS clients,” the Oct.J.S. stocks DJIA, +2. According to an arrest warrant affidavit, Kimball, 43, had a strange conversation with the mother of a 12-year-old girl in August that made the woman suspicious that Kimball may have touched her daughter inappropriately.47% and bonds TMUBMUSD10Y, 4. But it is vitally important that the good work that has been done continues, and that the New Jersey foster care system does not start to deteriorate again once that oversight ends,” Robinson Lowry told NJ Advance Media Thursday.228% are down, and there’s no known timeline for economic recovery. She then recalled that Kimball once told her “if the police ever went to his work they would discover things that would put him in jail for life,” the affidavit states. Each kit includes instructions in English and Spanish; participation is entirely voluntary," the district said in a statement . So what is the best way to maximize my savings, starting now? I talked to some experts to see what parents like me should do. Get more conservative While families saving for high school juniors don’t have college bills just yet, it’s time to start the goal-line offense, especially if your funds are in equities. Kimball told police he purchased four hidden cameras and admitted to recording the girl in her bedroom using the cameras. Billions of dollars also have been spent establishing a computerized case tracking system, improving training and supervision, expanding services to families and raising the monthly stipend for foster parents, among other changes. Things could get better before that first tuition bill is due, or by the time today’s high schoolers graduate from college — or not. Your instincts might tell you to leave the money in the market in case it bounces back, but this isn’t what experts advise for the portion of the money you need soonest. Kimball also told police he would get physically aroused while giving the girl a back massage. Your best strategy could be to lock in some losses, especially if you currently have a high school senior at home.” A spokesman for Norbut Beyer did not respond to requests seeking comment. MORE: How to talk to kids after 19 children, 2 adults killed in Texas school shooting "It was almost like the state just throwing their hands up and saying, 'We can't do anything about the guns. “For August tuition next year, I say let’s get that into cash and set it aside,” says Kyle McBrien, a financial planner at Betterment. Kimball, who told police his actions and behaviors started at the beginning of August, was released on $125,000 bond on Aug. If you don’t like the idea of a big chunk of money — we could be talking about $80,000 for one year of private university at full cost — sitting in cash and losing to inflation, you can look at a high-yield savings account, short-term CDs or Treasury bills, but it’s best not to take any risk with money that’s needed soon. But this applies only to the first bill due. Kimball has been practicing for 18 years, according to an online biography. “The failure to pass the legislation in the past eight months is a real disappointment and a cause for concern. “If you can stomach it, you might want to continue with age-based funds for the later years of college,” says Rita Assaf, vice president of retirement and college products at Fidelity Investments. “If you feel a little more scared, it’s ok to go into stable-value funds. It’s a safer option, kind of an in-between. Sen.” Many age-based portfolios in a 529 savings plan will automatically adjust to become more conservative over time, so you don’t have to worry about cashing out that money now, says Nathan Zahm, head of goal-based investing research in Vanguard’s Investment Strategy Group. For instance, a Vanguard age-based fund is typically more than 20% in cash at two years out from the target enrollment date, and around 40% in stocks. Fidelity’s 2024 fund typically has less than 40% in stocks and just over 50% in bonds. Vitale said he had received a request from the department three weeks ago to post the bill for a hearing, but was waiting for Scutari, the sponsor, to make that request. The age-based funds are linked to a high school graduation date, but assume you’ll stay invested for at least four more years as you pay for college. A sample Vanguard age-based fund Keep saving My parents didn’t have the opportunity to save much for me to go to college, and certainly didn’t think about the investing options available back then. But I’m part of the generation of parents since 1996 with access to Section 529 college savings plans. The Division of Child Protection and Permanency, the state’s child welfare and protection agency, investigates civil claims of child maltreatment, supervises children in foster care and arranges adoption for children whose parents are deemed unfit. These are state-sponsored investment accounts for educational use that grow tax-free, and in some states offer a tax break for contributions. So I joined with more than 15 million families that have opened these accounts over the years. The plans had amassed more than $450 billion in assets by the end of 2021, according to the Investment Company Institute, a mutual-fund industry trade group. The committee would also be required to file an annual report on its work. Other families choose to save for college in custodial accounts for minors, or in commingled accounts with other savings. Others might have prepaid tuition plans. It’s all good, considering how the price of college has consistently increased more than inflation. District Court Judge Stanley R. “As we say, every dollar saved is one less borrowed,” Assaf says. College-savings growth will be slower in the next two years if you keep your savings and ongoing contributions in cash, but whatever you can accumulate will make it easier when the time comes for the bills. Spend in the right order I have a younger child whose college fund escaped the Great Recession and has caught mostly upswing in the market. Our journalism needs your support. I put in the same lump sum amount for each child, two years apart, and made the same recurring contributions as time went along. Right now, the younger child has a higher balance than the older one, basically because of the market fluctuations the older one faced at the beginning. The annualized return of the S&P 500 SPX, +2.37% during the investing time period for my older child was 6% through Sept. 30 of this year, but it was 7.7% for the younger one, according to FactSet data. If I had started investing in 2009, it would have been 10%. You might say, tough luck for the older kid. But that’s not the way it needs to go for us. Since I’m the owner of the 529 accounts, I can move money between the two children easily. I can even shift more to the older child, spending down our savings in the first few years of college. “My recommendation is to always use 529 first,” says Robert Farrington, founder of The College Investor. “It might be down, but your tax advantage expires if you don’t use it for college.” That’ll give the rest of the investments more time to recover, for one thing, and also gives me more time to save, if I can. By the time my younger child heads off to college, maybe I’ll even be making more. Or, if not, maybe I’ll qualify for more financial aid because I’ll have depleted our savings. More from MarketWatch IRS sets new 401(k) limits — investors can save a lot more money in 2023 If the FAFSA makes you look too rich, here are 4 steps to boost college financial aid Here’s the information you’ll need to apply for student debt forgiveness under Biden’s plan Why some student-loan balances grow — even if you’re making diligent payments .