I've been a lifelong proponent of passive investing, particularly with Vanguard because of the original company's motto of being low cost…But now that I'm trying to take mobey out of some of the accounts, I can't help but notice that Vanguard seems to try to nickel and dime you over very little things when others don't
For example, after investing in the Nevada 529k plan they managed for over 19 years, I'm starting to withdraw to pay for my kids college tuition and room and board (we made it!)
I noticed there's $15 fee each to mail a check or $10 fee to do a electronic payment each time ….or $100 to close an account….it's not the end of the world but just annoying…
Schwab doesn't do this for my other accounts and Fidelity doesn't do this either….
Moving forward, guiding my kid to setup a Roth IRA, and brokerage account to jumpstart their investing, we chose chose Schwab and Fidelity and can't say I would recommend VBS… Vanguard brokerage is already behind in terms of sophisticstion, and with the additional nickel and dime fees when Schwab and Fidelity doesn't doing it isn't helping them with gain more customers…
Just curious do the other 529k not managed by vanguard do the same thing?
Vanguard 529 fees to withdraw…
byu/mx5plus2cones ininvesting
Posted by mx5plus2cones
1 Comment
There’s no fee to take a 529 disbursement from Fidelity, at least not the way I do it, which is an electronic transfer from the plan to one of my Fidelity taxable accounts. I don’t deal with checks or direct payments. I orchestrate payments on the school website via ACH debit from the aforesaid taxable account.