upromise - experiences?
Jul 22, 2002 | 1:37 pm
#16
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I just checked my account $7.70, I didn't realize a purchase from Circuit City would go into my savings.
As far as the 529 plans, invest your savings into the stock market right now
, I think it is better to go with the Discover cash option and put it in an ING Direct account earning 3%.
My 401K, a.k.a. the "Titanic Fund" is not doing all that well. Right now cash is the best option.
I am just going to keep the Upromise and hopefully getting pleasant surprises that a vendor I use is now part of the program.
Once I get myself one of those little critters, I will open 529 account.
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Another evil plot for world domination through the use of points and miles.
As far as the 529 plans, invest your savings into the stock market right now
, I think it is better to go with the Discover cash option and put it in an ING Direct account earning 3%.My 401K, a.k.a. the "Titanic Fund" is not doing all that well. Right now cash is the best option.
I am just going to keep the Upromise and hopefully getting pleasant surprises that a vendor I use is now part of the program.
Once I get myself one of those little critters, I will open 529 account.
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Another evil plot for world domination through the use of points and miles.
Jul 29, 2002 | 4:12 pm
#17
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FYI there is a lot of good info re 529 Plans and UPromise at the www.savingforcollege.com site and message board. This thread is particularly helpful: http://www.savingforcollege.com/mess...ML/003704.html .
Jul 30, 2002 | 10:33 pm
#18
Join Date: May 2001
Posts: 406
Upromise is a waste of time:
1. I found out that you can't transfer from upromise to your own 529 acct. you have to open one with Upromise partners.
2. Since I got a whopping %150 ($100 from buying a GM vehicle) in my upromise acct. If I open a new 529 acct with Upromise partner, it would cost me something like $50/yr to maintain. so within 3 yrs, all my money will be gone.
3. I doubt Upromise will be around in 18 yrs.
1. I found out that you can't transfer from upromise to your own 529 acct. you have to open one with Upromise partners.
2. Since I got a whopping %150 ($100 from buying a GM vehicle) in my upromise acct. If I open a new 529 acct with Upromise partner, it would cost me something like $50/yr to maintain. so within 3 yrs, all my money will be gone.
3. I doubt Upromise will be around in 18 yrs.
Jul 31, 2002 | 9:59 am
#19
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<font face="Verdana, Arial, Helvetica, sans-serif" size="2">Originally posted by bellwilliam:
Upromise is a waste of time: </font>
Upromise is a waste of time: </font>
<font face="Verdana, Arial, Helvetica, sans-serif" size="2">1. I found out that you can't transfer from upromise to your own 529 acct. you have to open one with Upromise partners.</font>
<font face="Verdana, Arial, Helvetica, sans-serif" size="2">2. Since I got a whopping %150 ($100 from buying a GM vehicle) in my upromise acct. If I open a new 529 acct with Upromise partner, it would cost me something like $50/yr to maintain. so within 3 yrs, all my money will be gone.</font>
<font face="Verdana, Arial, Helvetica, sans-serif" size="2">3. I doubt Upromise will be around in 18 yrs.</font>
Aug 12, 2002 | 5:22 pm
#20
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More interesting discussion on UPromise and Babymint:
http://www.savingforcollege.com/mess...ML/004502.html
http://www.savingforcollege.com/mess...ML/004502.html
Aug 14, 2002 | 11:24 pm
#21
Join Date: May 2001
Posts: 406
cactuspete, thanks for correcting me. I agree with what you said on most of the points.
how is the Illinois plan? is there a minimum to open the account? doesn't all 529 plan has some kind of minimum maintenance fee. I don't see how they can recoup their money on 1-1.5% of my $150.
how is the Illinois plan? is there a minimum to open the account? doesn't all 529 plan has some kind of minimum maintenance fee. I don't see how they can recoup their money on 1-1.5% of my $150.
Aug 19, 2002 | 12:30 pm
#22
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<font face="Verdana, Arial, Helvetica, sans-serif" size="2">Originally posted by bellwilliam:
how is the Illinois plan? is there a minimum to open the account? doesn't all 529 plan has some kind of minimum maintenance fee. </font>
how is the Illinois plan? is there a minimum to open the account? doesn't all 529 plan has some kind of minimum maintenance fee. </font>
Oct 9, 2002 | 4:10 pm
#23
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Upromise is establishing its own 529 plan(s), which apparently will not carry an annual fee.
http://www.upromise.com/corp/pressro...eases/ucf.html
http://www.upromise.com/corp/pressro...eases/ucf.html
Oct 11, 2002 | 5:17 pm
#24
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The press release on the Upromise site has now been revised to show a $20.oo annual fee for the Upromise 529. 
The Vanguard 529 has no annual fee, but the minimum investment is $3000.
[This message has been edited by cactuspete (edited 10-11-2002).]
The Vanguard 529 has no annual fee, but the minimum investment is $3000.[This message has been edited by cactuspete (edited 10-11-2002).]