"Chuck Fuller" <myronfuller[at]comcast.net> wrote in message
news:bb664990.0311191815.4e23a420[at]posting.google.com...
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Most 529 plans are funded with mutual funds, and each state sponsors/selects
a fund family, or families. I'm not aware of any that allow individual
security selection (although some may), and as far as I know, one can only
make allocation changes once per year (although some plans make automatic
changes for you, based on the age of the child).

Each state has their own rules, and there are often tax advantages to using
your own state's plan. While these plans appear straighforward, and in many
ways aren't much different than purchasing mutual funds for your own
account, there are some caveats and pitfalls. Next to nonqualified plans and
high-end estate planning, college funding has quickly become one of the most
complex planning areas that I deal with. Rules of thumb have become archaic,
and are often a recipe for future heartburn, and even disaster.

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There are dozens of companies offering 529 plans. The way it works is that each
state adopts certain plans for themselves. Some states offer a plan through a
single company, while some offer plans through multiple companies. Each company
then has a variety of investment options. It all depends on the state and the
company or companies it uses, so you have to research each one to get all the
information. You do not need to be a resident of a certain state to enroll in
that state's 529 plan. However, very often you can deduct contributions to your
own state's program from your state income taxes. Some plans are quite frankly
a complete ripoff, so be careful and do your research. Here are some web sites
to get you started (these are about a year old or more, so you'll want to get
updated info)...

http://www.usatoday.com/money/perfi/...lans-chart.htm

http://slate.msn.com//?id=2070062

http://www.usatoday.com/money/perfi/...best-plans.htm

http://www.forbes.com/free_forbes/2002/0610/200tab.html

Could someone tell me if there are any companies offering 529 college
saving plans where you are not limited to a certain number of funds?
Preferrably I would like to find one where I could invest the money in
individual stocks, mutual funds, etc.