An article, Turmoil Spooks 529 Holders, was published in the National Underwriter on 4/20/2009. (TREVOR THOMAS) The article suggested a flight to safety by parents and grandparents that were "saving" in 529 Plans for their children's and grandchildren's college educations.
Hooray! America is waking up to the reality that Wall Street and the Dolts in DC have been telling us to "save" but they are really encouraging us is to gamble. Investing is, by definition, very risky. When investing that is disguised as saving it becomes a con-game. Basin your children's or your grandchildren's future on a con game that you or they cannot win is beyond risky; it is almost foolish.
However, the con-artists tell you otherwis. They show you 8% gains year after year. They proclaim it to be as certain as death. They pay little of no heed to actual investor performance history. Instead, they substitute generic stock market statistics from a company that wants them to write business and that support the sales proposal. (Sales proposals are OK if they are sales proposals. They create a con-game when they are pesented as personal finance advice.)
A truly sage advior told me today that her college funding proposals always incorporate cash value life insurance, which is not counted in financial aid assessments, and rely on gurantees that are ->
- truth based
- objective
- verifiable
That kind of advice might just lead to reliable wealth creation and wealth preservation, intelligent legacy planning, and the perfect investment.
You might want to evaluate529 Plans that way, too.
;)
;)
