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(CNN)   The Obamas have between $200,000 and $400,000 stashed away in 529 college savings plans for their daughters Malia and Sasha. Wouldn't two or three be enough?   (money.cnn.com) divider line 89
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1295 clicks; posted to Politics » on 16 May 2014 at 3:33 PM (18 weeks ago)   |  Favorite    |   share:  Share on Twitter share via Email Share on Facebook   more»



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2014-05-16 02:10:08 PM
Only if you're a retard who doesn't know how to invest money
 
2014-05-16 02:12:17 PM

cretinbob: Only if you're a retard who doesn't know how to invest money


I think you missed the joke.  Took me a minute myself.
 
2014-05-16 02:14:08 PM
And?
 
2014-05-16 02:15:48 PM
so... they wisely invested in college funds to cover the cost of tuition for two kids, which, depending on the schools, could easily reach $400,000?

truly history's greatest monster.
 
2014-05-16 02:19:40 PM

FlashHarry: so... they wisely invested in college funds to cover the cost of tuition for two kids, which, depending on the schools, could easily reach $400,000?

truly history's greatest monster.


Yeah. That's not stashed away, that's just having a farking college fund and being able to cover both of your daughters' tuitions completely no matter where they want to go.
 
2014-05-16 02:25:55 PM
I hate it when black people act all white and stuff. "Ooh! Look at us! We are saving money for our children just like whitey!" You're not fooling us! We know you're still black!

Oops. I forgot to turn my dog whistle on.
 
2014-05-16 02:30:11 PM

James!: cretinbob: Only if you're a retard who doesn't know how to invest money

I think you missed the joke.  Took me a minute myself.


I think  cretinbob is right.  If you're saving up for your kids' college, 401 or even 403 would be for people who don't know what they're doing.  529 seems right to me, and I'm certain the Obamas have financial advisors smarter than any of us.
 
2014-05-16 02:31:22 PM
On what planet are these kids not getting full rides?
 
2014-05-16 02:35:12 PM

JerseyTim: On what planet are these kids not getting full rides?


The $400k is for beer money.
 
2014-05-16 02:38:39 PM

JerseyTim: On what planet are these kids not getting full rides?


The planet where Dad makes a million dollars a year.  (And uh, he's Obama.  Either the nukes fall, or he makes WAY more than that doing speaking tours).  They're probably getting IN to the ivy League, but not much in the way of financial aid.

More importantly, I don't know enough about 529's, but I'm guessing that there's a way to move that money into other retirement accounts in a tax-free way in the event that you don't spend it.  So worst case, they pay for most of their kids college, and best case they get an extra couple hundred grand into the retirement accounts.
 
2014-05-16 02:39:05 PM

Benevolent Misanthrope: James!: cretinbob: Only if you're a retard who doesn't know how to invest money

I think you missed the joke.  Took me a minute myself.

I think  cretinbob is right.  If you're saving up for your kids' college, 401 or even 403 would be for people who don't know what they're doing.  529 seems right to me, and I'm certain the Obamas have financial advisors smarter than any of us.


If you're going to go that far why not give them 530 college savings plans?  Nice even number.
 
2014-05-16 02:42:05 PM

Benevolent Misanthrope: James!: cretinbob: Only if you're a retard who doesn't know how to invest money

I think you missed the joke.  Took me a minute myself.

I think  cretinbob is right.  If you're saving up for your kids' college, 401 or even 403 would be for people who don't know what they're doing.  529 seems right to me, and I'm certain the Obamas have financial advisors smarter than any of us.


Seriously?  The headline was a silly play on words, not an actual critique of investment strategy.
 
2014-05-16 02:46:39 PM
He's sending his kids to college?

What a snob.
 
2014-05-16 02:49:18 PM

factoryconnection: Benevolent Misanthrope: James!: cretinbob: Only if you're a retard who doesn't know how to invest money

I think you missed the joke.  Took me a minute myself.

I think  cretinbob is right.  If you're saving up for your kids' college, 401 or even 403 would be for people who don't know what they're doing.  529 seems right to me, and I'm certain the Obamas have financial advisors smarter than any of us.

Seriously?  The headline was a silly play on words, not an actual critique of investment strategy.


Hush.  You'll scare the fish.
 
2014-05-16 02:49:18 PM

Benevolent Misanthrope: I think cretinbob is right. If you're saving up for your kids' college, 401 or even 403 would be for people who don't know what they're doing. 529 seems right to me, and I'm certain the Obamas have financial advisors smarter than any of us.


You mean the President of the United States has financial planners who know what they are doing? Shock and awe.

My family was raised on a cop's salary, my dad was up for detective when he was injured and had to go on disability (kneee bashed with a brick by some piece of shiat.)  We didn't have college funds, I paid off my BA last summer... at age 38.

Good for them to not have that burden.
 
2014-05-16 02:49:49 PM
but it's totally cool that romney stashed his dough tax-free in switzerland until the amnesty in 2009. that's just boot-strappy capitalism!
 
2014-05-16 02:50:07 PM

Lando Lincoln: JerseyTim: On what planet are these kids not getting full rides?

The $400k is for beer money.


Best parents ever.
 
2014-05-16 02:51:04 PM

James!: Benevolent Misanthrope: James!: cretinbob: Only if you're a retard who doesn't know how to invest money

I think you missed the joke.  Took me a minute myself.

I think  cretinbob is right.  If you're saving up for your kids' college, 401 or even 403 would be for people who don't know what they're doing.  529 seems right to me, and I'm certain the Obamas have financial advisors smarter than any of us.

If you're going to go that far why not give them 530 college savings plans?  Nice even number.


Well, yeah, I suppose you could.  That way you'd have one to use early if you needed it.
 
2014-05-16 03:11:21 PM
IIRC money from a 529 can be used for things other than tuition including books and rooming.
 
2014-05-16 03:15:00 PM

Benevolent Misanthrope: James!: Benevolent Misanthrope: James!: cretinbob: Only if you're a retard who doesn't know how to invest money

I think you missed the joke.  Took me a minute myself.

I think  cretinbob is right.  If you're saving up for your kids' college, 401 or even 403 would be for people who don't know what they're doing.  529 seems right to me, and I'm certain the Obamas have financial advisors smarter than any of us.

If you're going to go that far why not give them 530 college savings plans?  Nice even number.

Well, yeah, I suppose you could.  That way you'd have one to use early if you needed it.



You can go too far, though. By the time you hit 1040, it's all taken up in income taxes
 
2014-05-16 03:21:51 PM
It was a joke, people. Jesus. Chill the fu*k out.
 
2014-05-16 03:25:33 PM
That would probably pay for one year of tuition.
 
2014-05-16 03:27:11 PM

Calmamity: It was a joke, people. Jesus. Chill the fu*k out.


I don't get the joke....
 
2014-05-16 03:27:55 PM

BalugaJoe: That would probably pay for one year of tuition.


Or two years of threeition.
 
2014-05-16 03:36:16 PM
Obviously he's being paid too much if he has anything left over for savings
 
2014-05-16 03:36:47 PM
529? That's not a valid HTTP response code. No HTTP response jokes in this thread.
 
2014-05-16 03:38:11 PM

Lando Lincoln: JerseyTim: On what planet are these kids not getting full rides?

The $400k is for beer money.


Contraceptives.  I hear they're rooming with that Sandra Fluke cumdumpster
 
2014-05-16 03:38:14 PM

Lionel Mandrake: I don't get the joke....


It's not 529 accounts, it's a 529 plan.  Let me try to explain it again.  That always makes jokes funnier.
 
2014-05-16 03:39:08 PM

Soup4Bonnie: Lionel Mandrake: I don't get the joke....

It's not 529 accounts, it's a 529 plan.  Let me try to explain it again.  That always makes jokes funnier.


ok but why would they have the money in 529 plans instead of just one plan
 
2014-05-16 03:40:44 PM
I needed to start one years ago.

goddamnit.
 
2014-05-16 03:40:51 PM

JerseyTim: On what planet are these kids not getting full rides?


A buddy of mine in high school turned down a full ride because he had a trust fund available for the purpose that was more than sufficient. He felt obligated to leave the money available for those who needed it.
 
2014-05-16 03:41:00 PM
ok fine this headline was acceptable
 
2014-05-16 03:41:20 PM

meat0918: I needed to start one years ago.

goddamnit.


Maybe Obama will lend you his time machine.
 
2014-05-16 03:41:20 PM
Gotta launder all that illegal arms and drugs money somehow.
 
2014-05-16 03:41:58 PM

sprawl15: Soup4Bonnie: Lionel Mandrake: I don't get the joke....

It's not 529 accounts, it's a 529 plan.  Let me try to explain it again.  That always makes jokes funnier.

ok but why would they have the money in 529 plans instead of just one plan


typical bloated big government bureaucracy

thanks obaba
 
2014-05-16 03:43:57 PM

Lionel Mandrake: Calmamity: It was a joke, people. Jesus. Chill the fu*k out.

I don't get the joke....


a "529" is a college savings plan, not the number of accounts.
 
2014-05-16 03:44:39 PM
Millionaires can afford these things.

It seems like not much of a story.    And a really lame headline.
 
2014-05-16 03:45:02 PM
Wouldn't two or three be enough?

Or 3/5ths of an account, subby?
 
2014-05-16 03:46:03 PM

sprawl15: ok but why would they have the money in 529 plans instead of just one plan


white people save for college like this
black people save for college like this
 
2014-05-16 03:46:12 PM

enry: IIRC money from a 529 can be used for things other than tuition including books and rooming.


Yep, when my wife and I started the 529 for our daughter we were told it could be used for housing, transportation and school supplies.  Our daughter can also pass on any extra money in the account to another family member for use for their education expenses as well.  Although that might involve some form of penalty but not as large as the tax penalty for removing the money for non education expenses.  Also, we were a bit disappointing to find out it could not be used to pay for private primary or secondary education only for college.  It's still a very good investment though.
 
2014-05-16 03:46:53 PM

Calmamity: It was a joke, people. Jesus. Chill the fu*k out.


why come u no  tattoo?
 
2014-05-16 03:47:36 PM
$756 per account, come on P. Fart Dingus
 
2014-05-16 03:48:08 PM

netcentric: Millionaires can afford these things.

It seems like not much of a story.    And a really lame headline.


Not as lame as this dress.
www.allamericanbikini.com
Ooh, shiny!
 
2014-05-16 03:48:48 PM

JerseyTim: On what planet are these kids not getting full rides?


I don't know what kinds of grades Malia and Sasha are getting in school, but usually full scholarships are "need-blind", and generally awarded for academic or athletic excellence, or if you win some kind of essay-writing contest or such thing. I don't think you get them just for being rich and/or influential. That said I'm sure they'll get into pretty much every college they apply to.
 
2014-05-16 03:48:53 PM

Insertwitty Namehere: enry: IIRC money from a 529 can be used for things other than tuition including books and rooming.

Yep, when my wife and I started the 529 for our daughter we were told it could be used for housing, transportation and school supplies.  Our daughter can also pass on any extra money in the account to another family member for use for their education expenses as well.  Although that might involve some form of penalty but not as large as the tax penalty for removing the money for non education expenses.  Also, we were a bit disappointing to find out it could not be used to pay for private primary or secondary education only for college.  It's still a very good investment though.


i'm pretty sure if we took every savings account meant to pay for college, and combined them, it would pay for everyones college.  But instead we jump through hoops like monkeys.
 
2014-05-16 03:49:02 PM
Did anyone check his freezer?
 
2014-05-16 03:49:04 PM

Soup4Bonnie: Lionel Mandrake: I don't get the joke....

It's not 529 accounts, it's a 529 plan.  Let me try to explain it again.  That always makes jokes funnier.


Well you managed to give me enough of a clue to study it out, so thank you.

Since I have no kids, I was in a poor position to appreciate the "humor"
 
2014-05-16 03:50:24 PM

Jackson Herring: $756 per account, come on P. Fart Dingus


Not even enough to cover a caviar breakfast
 
2014-05-16 03:50:28 PM

Lionel Mandrake: Since I have no kids, I was in a poor position to appreciate the "humor"


I have kids so I am also in a poor position.
 
2014-05-16 03:53:33 PM

sprawl15: Soup4Bonnie: Lionel Mandrake: I don't get the joke....

It's not 529 accounts, it's a 529 plan.  Let me try to explain it again.  That always makes jokes funnier.

ok but why would they have the money in 529 plans instead of just one plan


And for god's sake, will someone tell me who's on first base?
 
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