Paying for college

Jolynne_Smyth
Sun, 20 Jul 2008 07:05:59 +0000

Really good advice, GroovyGeek. I’ve learned now, there is no substitute for, as you said, reading your own financial reports and reviewing your situation.

The same fin advisor who put us into an ‘aggressive growth’ 529 also put my (tiny) retirement $ into a Morgan Staney acct that is annually assessing me fees. When I realized this & called him on it, he said, “yeah, you’d be better off moving it elsewhere to a non-fee account.” Well, would have been nice to know that 5 years ago when I set it up! But, my fault–after hearing that a few months ago and having no idea where else to put it—it’s still there. Will research, figure something out and call him Monday! Thanks for the encouragement.

I agree w/your advice re: the tax, too. We had an individual do our taxes this year who put something improper on re: my (tiny) home biz income (unsubstantiated deduction figure). When I called her on it (don’t want anything unethical in my name) – she changed it on the worksheet, but not the actual form. Thus, had I not reviewed it, I’d have been submitting an internally inconsistent tax form that would practically admit improper statements.

Read, read, read; as you said.