With the birth of our twin granddaughters 17 years ago this month, we took out Georgia’s 529 College Savings Plan with TIAA-CREF as Program Manager. Two years later, we did the same for a subsequent granddaughter.
Their parents contributed $100 per month to the plan for each child and we matched, a total of $600 per month.
As of today, the accumulations for the twins are $89,695 each, and for the third child, $74,905.
Our balanced plan return since inception has been 3.92%. Had we chosen a more aggressive plan, the return would have been 5.78%. (No regrets on the more conservative approach).
Now, college is just a few months away. It was a good move. Thanks TIAA.
@rubirosa , congratulations.
One can choose any state 529, but several states offer tax breaks for their residents. This can be checked from M* 529 Map, https://529.morningstar.com/state-map.action .
CA, CT, GA, MI, MN, OK, WI have TIAA 529.
If a state doesn't offer any state tax break, or one doesn't care for those, then one can go with any state 529.
A while ago, TIAA also signed up with AARP to market TIAA 529.
BTW, I have IL 529 that is now managed by UBT [3rd program manager since I started with it].
My state's 529 plan is managed by TIAA as well for some years now. It was managed by a different company when we started in 2007. Apparently TIAA is big on 529 plans.