An article, Turmoil Spooks 529 Holders, published in the National Underwriter on 4/20/2009 By TREVOR THOMAS indicated a flight to safety by some parents and grandparents that were putting money aside in 529 Plans for the college educations of their children and grandchildren.

This is one more indicator that America is waking up to the reality that Wall Street and the Dolts in DC have been telling us to “save” but that what they are really telling us is to gamble.  Investing is clearly very risky.  Investing that is disguised as saving is clearly a con of the lowest character.  Putting your children’s or your grandchildren’s future at risk based on a con game that you or they cannot win is foolish.

Of course, the con-artists don’t tell you that.  They project 8% gains year upon year and proclaim it the truth.  They ignore actual investor performance history and substitute generic stock market statistics that support their sales proposal.  (Sales proposals are OK when they are sales proposals.  They are a con when they are packaged as sage personal finance advice.)

A truly sage advior told me today during an interview that he makes sure his college funding proposals incorporate cash value life insurance, which is not counted when seeking financial aid, 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.

by Jeffrey Reeves – youBEthebank.com

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