Comments on: Join Upromise and Get $2 in Your Account http://poorerthanyou.com/2007/02/27/join-upromise-and-get-2-in-your-account/ Talking about money, without being boring. Sat, 11 Oct 2008 10:41:28 +0000 http://wordpress.org/?v=2.6.2 By: k sweere http://poorerthanyou.com/2007/02/27/join-upromise-and-get-2-in-your-account/#comment-50102 k sweere Sat, 03 May 2008 22:14:20 +0000 http://poorerthanyou.com/2007/02/27/join-upromise-and-get-2-in-your-account/#comment-50102 Recommend Best 529s: College Savings Iowa and New York’s 529 College Savings Program - Direct Plan Upromise is OK in my opinion, until you try to get your money out. The only apparent way to get your money is through a 529 plan, but most have high expense and annual fees. For example, most of the listed 529s have a $15-30 annual account fee PLUS 0.3 - 1.5% expense fees. If you”ve only $1000 invested, the market has to return 7.5% just for you not to lose money (assuming $30/$1000 = 3%, 1.5% expense, 3% inflation rate). But, you can do better. You just need to pick the best fund, but Upromise won’t tell you what’s best, they just try to push their own high fee funds. The way I found the best funds was to review all the plans Upromise Investments services (see the Upromise 529 FAQ, https://upinvestments.s.upromise.com/upinv/8106.4.do#212 ) and then look each up at <a href="http://www.savingforcollege.com/compare_529_plans/index.php?plan_ids%5B%5D=18&plan_ids%5B%5D=37&plan_ids%5B%5D=39&mode=Compare&page=compare_plans&plan_type_id=">savingforcollege.com</a>. By digging through the fees and such, IMHO you’ll find that Iowa and New York offer the best deals for non-residents - No annual fee, low total expense ratio, and Vanguard funds. Your results may vary. Recommend Best 529s: College Savings Iowa and New York’s 529 College Savings Program - Direct Plan

Upromise is OK in my opinion, until you try to get your money out.

The only apparent way to get your money is through a 529 plan, but most have high expense and annual fees. For example, most of the listed 529s have a $15-30 annual account fee PLUS 0.3 - 1.5% expense fees. If you”ve only $1000 invested, the market has to return 7.5% just for you not to lose money (assuming $30/$1000 = 3%, 1.5% expense, 3% inflation rate).

But, you can do better. You just need to pick the best fund, but Upromise won’t tell you what’s best, they just try to push their own high fee funds.

The way I found the best funds was to review all the plans Upromise Investments services (see the Upromise 529 FAQ, https://upinvestments.s.upromise.com/upinv/8106.4.do#212 ) and then look each up at savingforcollege.com. By digging through the fees and such, IMHO you’ll find that Iowa and New York offer the best deals for non-residents - No annual fee, low total expense ratio, and Vanguard funds. Your results may vary.

]]> By: gracie http://poorerthanyou.com/2007/02/27/join-upromise-and-get-2-in-your-account/#comment-693 gracie Wed, 16 May 2007 02:50:52 +0000 http://poorerthanyou.com/2007/02/27/join-upromise-and-get-2-in-your-account/#comment-693 have you gotten a good amount of people to sign up how much do you get if i sign up and you referred me have you gotten a good amount of people to sign up
how much do you get if i sign up and you referred me

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