Cgorab, you stated:
If NY had equal treatment for any plan, there would be no one investing in NY's plan.
Reply- That is not true. One of the top Mutual fund companies (Vanguard) is offered, so it still would be very popular.
Bdn39- you stated:
With the stock/bond allocation thing, it's roulette. I know MANY people who lost half (or more) of junior's college money in 2001 with junior ready to launch in 2002.
If we are going to propose a national set of rules, let's fix it right. Asset allocation over a mere 18 years is roulette.
Reply- The people you know who lost half or more of Junior's money weren't properly diversified if they only had ONE YEAR to withdraw their money and the majority was in equities. It is not the stock market's fault, it was lousy investing on their part. No different than those employees at Enron who lost their 401K savings. Too many eggs in one basket!
Also, 18 years I would argue is NOT 'roulette' as you state. If you have a prudent stock/bond allocation, use low cost funds, are properly diversified, and stay the course you should be able to achieve better returns than any prepaid plan, JMO.
[This message has been edited by Govoni (edited March 31, 2006).]
[This message has been edited by Govoni (edited March 31, 2006).]
[This message has been edited by Govoni (edited March 31, 2006).]