What’s Difference Between Direct-Sold And Advisor-Sold 529 Plans?

Ramsey Everyday Millionaires

Ramsey Network

Business, Careers, Investing

4.8 • 3.6K Ratings

🗓️ 21 May 2025

⏱️ 2 minutes

🔗️ Recording | iTunes | RSS

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Transcript

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0:00.0	This episode is brought to you by SmartVester.
0:08.0	Connect with an investing pro near you at Ramsey Solutions.com slash SmartVester.
0:13.9	Carlos is with us in Los Angeles.
0:15.8	Hey, Carlos, what's up?
0:17.2	Hey, thank you for taking my call.
0:19.4	Sure.
0:20.4	So I'm on Baby Step four, five, and six.
0:23.9	And I recently met with a financial advisor about opening up a $5.29 plan for my daughter.
0:30.6	And she went over all the fees and the stuff.
0:33.6	And then I started wondering if it's better for me to just open a plan directly, like to vanguard or something like that, instead of me to see the advice.
0:41.6	I don't know what's your opinion on that.
0:46.2	I would use your advisor.
0:47.5	The fees shouldn't be substantial.
0:49.3	They should be very small.
0:51.3	Little to nothing.
0:52.7	And here's the thing.
0:53.4	The 529 plans are so. some of them suck beyond belief.
0:58.9	And you could stumble into one of those if you're not careful.
1:02.2	And if you don't have somebody coaching you along the way on this and teaching you about it.
1:06.8	Because the only 529 plan we would recommend is one where you control them and select the mutual funds.
1:12.9	And they don't automatically change.
1:15.3	They're not automatically selected for you based on the age of the kid.
	...

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